Unlock the power of digitalisation — AOG starts tomorrow

With the global oil and gas sector rebounding from a major industry downturn, there will be significant critical interest when more than 8000 visitors from 20 different countries attend one of the world’s leading petroleum events in Perth tomorrow.

The three-day Australasian Oil & Gas Exhibition & Conference (AOG), which is being staged for the 37th time, will run from Wednesday, 14 March to Friday, 16 March at the Perth Convention and Exhibition Centre (PCEC).

One of the major topics of discussion between key global decision-makers in attendance is sure to be the rise in oil prices and the turnaround in the local industry sentiment. International and local expertise and technology will also be at the forefront when the popular ‘Industry Forums’ return.

Industry Forums

The free-to-attend Collaboration, Subsea and Knowledge Forums will again feature representatives from the world’s leading operating companies and the service and supply sector.

To be staged in specially built theatres on the exhibition floor, the industry forums will feature content developed by AOG partners and leading industry associations with presentations from a wealth of local and international specialists.

Other highlights for AOG 2018 are the new NERA-backed SME ConnectER and the Technology & Skills Hub.

“This year’s event has really attracted not only high-class content for our Industry Forums, but also the latest technology from around the world and this technology will play an important role as the local industry begins its recovery,” AOG Event Director Bill Hare said.

Digital technology — working or not?

Many of the business leaders attending the AOG conference understand the power of digital technology. They see the potential for them to bring about transformation and growth. And many are making big investments in a wide variety of cutting-edge technologies. But many simply aren’t getting the most out of their digital investments.

A recent Accenture survey explored how companies deploy digital technologies and the benefits they derive from them. What we found is that only 13% of organisations are getting greater efficiency, cost savings and business growth from their digital investments. That’s a low number, but the good news is that the analysis also identified that energy companies can, on average, realise additional gains of more than US$16 million in terms of market capitalisation if they combine technologies such as virtual reality, big data and artificial intelligence.

It turns out that too many businesses are still deploying digital technologies in a piecemeal fashion, with the resulting benefits flowing (naturally) to only one part of the organisation.

At this year’s AOG conference, Accenture’s booth will have an IIoT Digital Plant simulation that will showcase how these technologies can operate to drive growth. Companies must do more than just change themselves into digital businesses beyond implementing the latest in digital technologies. They must completely reinvent their operating models, production and value chains to create more value with digital.

The AOG conference is a platform for industry leaders to learn and exchange ideas about the role digital must play. Is this future scary or bright? It’s probably a little of both. Organisations must weigh their options and place strategic bets across digital technologies. However, what is clear is that success hinges on a bold rethinking of their business and operating models, how they work with the ecosystem and equip their staff.

For more information: https://aogexpo.com.au/.

Image credit: ©iStockphoto.com/Teun van den Dries