Adam Ballard BS, PhD
Chief Data Scientist and Digital Team Lead
The energy transition has illuminated several potential scenarios as to the future of oil and gas as forms of energy. This has cascaded to high variability in future demand curves and ultimately to the future price. One impact of the energy transition has been in the space of capability…we are seeing high attrition of current workforce and less flow into the industry through talent pipelines. The experience is disappearing. Key challenges energy companies have are (1) capturing this experience before it is gone and (2) utilizing existing staff in the most effective and synergistic way.
Digital Transformation is more than just digitizing your information, it goes well beyond. In fact, digitizing your information only provides 20% of the potential value of the investment; and that is via merely through a gain in time efficiency. The other 80% of the value is sought by integrating the digitized information with the business…digitally capturing workflows, processes, procedures, heuristics, knowledge, incidents, experience, etc. Additionally, digital transformation is about changing the way the organization works, such as the use of collaboration rooms and centralizing support. Truly transforming your business digitally provides systematic learning and knowledge capture across projects and operations, which is much needed in a time when the experience in the business is leaving through attrition.
Digital systems have evolved significantly over the last 10 years and are the enabler to tackle the challenges facing oil and gas. Endeavor’s Digital Transformation Team can assist companies in assessing, developing, and implementing their digitalization strategy to maximize the value captured.
Endeavor has the depth of SME and Digital experience as well as breadth of perspective to address these areas within the energy ecosystem, both upstream, downstream, and for alternative energy. Endeavor has significant experience in optimizing business value by treating the business as a science.
With each situation being unique, we first undertake an assessment and check against best practices for the areas of concern within the business. A plan would be developed by the appropriate Team Members to address the issues identified during the survey. With Client approval, the plan will be initiated while providing the Client with feedback during the process. A final report will be provided to highlight the benefits associated with the changes implemented.
Our assessment addresses:
Data – We differ from others in that we believe there is immediate value to your business with existing digitized data. We don’t ask you to invest in equipment (transmitters, ERP systems, etc.) before we start, we start with what you already have and let the value of that investment fund future digitization efforts.
Process / Workflow – We identify processes / workflows that cross several parts of the organization, therefore offering high value if digitized.
Knowledge – We identify ‘custom built’ solutions by your staff, where there is opportunity to capture that knowledge in a systematic way.
Culture – Culture of the organization drives the performance. We assess the existing culture and identify a path forward to ensure a successful outcome.
The benefits of this approach include:
• Fast, pragmatic implementation
• Consistent performance of your organization (day in and day out)
• Systematic knowledge capture of your staff
• Optimized business performance based on data-driven decisions
• Don’t leave value on the table, let Endeavor Management work with you and bring more to the bottom line!
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