SLB Digital Forum 2024

Rakesh Jaggi, closing keynote: Harnessing collective strength and purposeful technology

Global representation and unity

Highlighting the global representation in the hall, Rakesh marveled at the presence of representatives from almost the entire world’s energy system. This diverse gathering was seen as both amazing and inspiring, prompting Rakesh to explore ways to strengthen bonds, deepen trust, and navigate new frontiers together.
 

Digital murmuration and collective action

The concept of ‘Digital Murmuration’ was introduced, drawing a parallel with the mesmerizing movements of starling flocks. These flocks, consisting of up to 100,000 birds moving as one, serve as a powerful symbol for the spread of digital technology. Each bird, responding to its seven closest neighbors, symbolizes the interconnectedness and collective strength necessary in the energy industry. Rakesh emphasized that, like the starlings, industry players must act both as followers and leaders, fostering cooperation to achieve collective success. The theme of working together and leveraging collective intelligence was reiterated throughout his speech.
 

Engineered solutions from brilliant minds

Rakesh lauded the energy sector’s history of engineering powerful solutions to complex problems. Highlighting examples like the modular formation dynamics tester, directional drilling, and 4D seismic, He illustrated the industry’s capacity for significant technological advancements. He noted this is not by luck or magic, but the results of meticulous engineering and persistent efforts by brilliant minds. Rakesh’s emphasis on engineering excellence underscored his belief that purposeful and well-engineered technology is key to the industry's future.
 

AI: hype or reality

Addressing the evolving digital landscape, Rakesh emphasized the need for the energy sector to move with urgency towards a lower-carbon future, leveraging digital technologies. The speech moved on to the topic of AI, questioning whether it represents the greatest technological leap or merely hype, he said, “Of course, the answer depends on how you approach it. We’ve heard about so many types of AI: Narrow AI, General AI, Superintelligent AI, Robotic AI, Conscious AI, Machine Learning and now of course Generative AI. Today I want to propose a new label for a flavor of AI tuned for the demands of the energy industry. I call it Engineered AI.”

He went on to explain that far from hype, saying that Engineered AI has a very strong domain bias for the energy industry, and is designed specifically to solve real world problems for meaningful performance gains, drawing on SLB’s almost 100 years of experience in the sector.
 

Engineered AI

He emphasized that this advanced AI is built on robust, secure, and scalable foundations, resulting from years of collaboration and investment. This new data and AI platform aims to solve historical issues of siloed and inaccessible data, ensuring trust and transparency while connecting data sources across the entire value chain—from subsurface to production.

Rakesh highlighted that Engineered AI is not just a technological novelty but a purposeful innovation already in action today. He provided a compelling example from South America, where they manage oilfields with around 270 wells. These fields face challenges like flow assurance and system failures. To address this, AI waterflood models combined with machine learning and physics-based models have been developed, significantly speeding up decision-making processes.

In the Amazon's remote operations, autonomous well pads powered by cloud and edge platforms infused with AI have been created. These autonomous systems handle tasks like optimizing ESP performance and chemical injection management with minimal human intervention, ensuring peak production performance around the clock.

The impact of Engineered AI extends beyond well pads to the entire pipeline network and facilities, enabling whole system optimization. This approach has led to a sustained 4% increase in production, a 60% increase in people efficiency, a 25% reduction in equipment failure, and significant reductions in CO2 emissions.

Rakesh concluded by expressing optimism about the potential of Engineered AI to create new jobs, value, and solutions. At the close of his speech, and indeed the Digital Forum plenary sessions, he said, “If, like the Starlings, we move together. We trust each other. We communicate. We cooperate. Our dream is not just to dazzle but to deliver. At our best, we’ve done it time and time again. This is how we move forward as one. With Engineered AI… for the real world. This is how we navigate new frontiers.”

SLB and TotalEnergies' CEOs discuss bold moves in sustainability and digital transformation Fireside chat between Patrick Pouyanné, CEO, TotalEnergies and Olivier Le Peuch, CEO, SLB

Olivier and Patrick’s conversation delves into the significant challenges and opportunities TotalEnergies faces in energy transition and digital transformation.

Patrick highlights the shift from traditional oil and gas to more sustainable energy sources. TotalEnergies aims to produce oil and gas with near-zero emissions, necessitating substantial innovation. By 2030, the company plans to have 20% of its production in electricity, reflecting a commitment to renewable energy. Integrating renewable energies like solar and wind into their portfolio is crucial and requires advanced digital solutions for efficiency and management.

Patrick emphasizes the importance of reducing CO2 emissions and achieving net-zero emissions. The company is investing heavily in carbon capture and storage (CCS) technologies, innovating to make these processes cost-effective and efficient. Electrification of operations and using digital tools to monitor and manage emissions are critical strategies for their sustainability goals.

In terms of digital transformation, TotalEnergies has taken significant steps to innovate digitally. They have established a ‘digital factory’ to centralize and enhance their digital capabilities. The company leverages AI and machine learning at the edge to optimize real-time operations, such as chemical injections and drilling, enhancing efficiency and reducing costs. Digital tools are also essential in managing the integration of various energy sources and improving overall operational efficiency.

Efficient data management was identified as fundamental for innovation and operational excellence. TotalEnergies uses cloud technology to streamline data from different sources, making it accessible and actionable for decision-making. This approach ensures effective management and utilization of the vast amounts of data generated in operations.

Partnerships and collaboration are also key themes. TotalEnergies values partnerships with technology companies to leverage expertise and accelerate innovation. Collaborative efforts are seen as a way to develop new digital tools and solutions that can be scaled across the industry, enhancing the company’s competitive edge.

Patrick shares insights into how digital tools, like Microsoft Teams, became indispensable during the COVID-19 pandemic, transforming communication and efficiency within the company. He used this example to underscore the importance of embracing new technologies to improve operational workflows and maintain productivity.

Overall, the conversation underscores TotalEnergies’ strategic focus on sustainability and digital transformation as key drivers for future growth and competitive advantage in the evolving energy landscape.

Panel 3 Scaling digital (Asian perspective) AI and tech partnerships key to future energy efficiency and sustainability

The panel, which featured Tayba Al Hashemi, CEO, ADNOC Offshore, and Tengku Muhammad Taufik, President & Group CEO, PETRONAS focused on the implementation of digital technologies in the energy sector.

Digital technologies were deemed essential for optimizing operations, reducing costs, and enhancing safety. Key advancements included the integration of subsurface data and the use of AI for autonomous operations. Partnerships with tech developers and AI companies were emphasized as crucial for driving innovation and efficiency.

The discussion addressed the dual challenge of meeting rising energy demands and addressing climate change. Energy transition must focus on safer, reliable, and emission-reduced solutions, with digital technologies playing a crucial role in achieving these goals. AI-driven demand management and process optimization were cited as leading to significant savings and improved gas production. Additionally, initiatives aimed at reducing carbon footprints and enhancing energy efficiency were showcased, demonstrating how digital solutions contribute to more sustainable practices in the industry.

The need for pragmatic, value-focused digital investments with clear outcomes was stressed. The role of partnerships in accelerating digital transformation and the importance of upskilling the workforce to harness AI's potential were highlighted. The panel concluded with a call for the industry to adopt digital solutions proactively to shorten discovery and production cycles, respond swiftly to emissions challenges, and ensure a sustainable energy future.

Specific points about data included the use of a platform for micro data allowing real-time manipulation and interrogation, enabling more efficient and accurate subsurface analysis. The discussion around sustainability emphasized reducing emissions through electrification projects and the strategic use of AI to manage demand and optimize processes. The importance of partnerships was underscored, highlighting collaborations with tech developers and AI companies to leverage data and digital tools for greater efficiency and sustainability.

Panel 4 Africa’s Energy Transition: Sustainability pioneers

In an open and informative discussion on innovating for a balanced planet (African perspective), which featured Proscovia Nabbanja, CEO, Uganda National Oil Company, and Maggy Shino, Petroleum Commissioner, Namibia Energy Regulator, the panel highlighted that Africa stands at a critical juncture regarding energy transition and sustainability. We heard that the continent's energy sector holds immense potential, particularly with Ethiopia leading innovative solutions that align economic growth with environmental concerns. The session underscored the importance of interactive dialogue to address these issues, featuring insights from key figures in Namibia and Uganda's energy sectors.

The participants said that the significant challenge in Africa is the energy deficit, with about 600 million people lacking access to clean energy. The energy mix varies across the continent, with different countries relying on diverse sources like hydro, wind, solar, oil, and gas. This diversity necessitates tailored strategies for energy transition that consider the unique contexts and infrastructural gaps of each region.

Namibia and South Africa are making strides in leveraging their renewable energy potential, including solar, wind, and green hydrogen. Namibia, in particular, is exploring ways to integrate green hydrogen with its natural gas resources to promote a low-emission, sustainable energy mix. The country aims to design infrastructure that supports this integration, thereby reducing carbon emissions while boosting economic growth.

The conversation also emphasized the role of technology in accelerating energy transition. However, it was noted that technology alone is insufficient. Effective policies, regulatory frameworks, and financing are crucial to support technological adoption and infrastructure development. For instance, the need for improved transmission and distribution networks was identified as a critical barrier to achieving widespread energy access.

Collaboration among African nations is essential to harness the continent's energy potential. By sharing resources and expertise, African countries can create a resilient energy system that meets the needs of its population while addressing climate challenges. This collaborative approach, coupled with a commitment to innovative solutions, can pave the way for a sustainable energy future in Africa.

OGCI's Bjørn Otto Sverdrup Emphasizes Collaborative Efforts and Innovation in Tackling Climate Change

Bjørn Otto Sverdrup, the Chair of the OGCI Executive Committee and Head of the OGDC Secretariat, talked to the event’s moderator about decarbonizing oil and gas. He talked about the critical role of the Oil and Gas Climate Initiative (OGCI) in addressing climate change and steering the energy sector towards a more sustainable future. Sverdrup emphasized that OGCI is a collaborative effort involving major oil and gas companies committed to reducing greenhouse gas emissions and investing in low-carbon technologies.

Bjørn highlighted several key initiatives, including methane reduction programs, carbon capture and storage (CCS) projects, and investments in renewable energy sources. One significant point he made was the importance of transparency and accountability in these efforts. Sverdrup also discussed the challenges the industry faces, such as balancing energy needs with environmental responsibilities and the need for supportive policies and regulations from governments worldwide.

Sverdrup concluded by stressing the urgency of the situation and the necessity for continued innovation and collaboration. He believes that with the right strategies and commitments, the oil and gas industry can play a pivotal role in achieving global climate goals. The overall message was one of cautious optimism, with an emphasis on actionable steps and measurable outcomes.