By

Duncan McLachlan
10
Aug

are you prepared to realise the value of the digital dollar?

The fourth industrial revolution is upon us, the Industrial Internet of Things (IIoT) is changing the oil and gas industry but are we fully leveraging value of the digital dollar? Companies are starting from an operations perspective and using the digital revolution to solve known problems. They are moving from reactive and preventive maintenance regimes...
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21
Jul

how you can make your project greater than the sum of its parts

Systems thinking and systems dynamics are two key components to systems theory and have been the mainstay of many industries since the middle of the twentieth century. Systems thinking is the approach of studying and understanding systems of all types. Systems dynamics is the methodology and mathematical modelling of these often-complex systems. The foundational theory...
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29
Jun

bitcoins, blockchains and unlocking project value

When the reclusive, assumed pseudonymous, Satashi Nakamoto mined the first Bitcoin in 2009[1], those with foresight may have predicted the potential disruption to currency and banking markets but few would have predicted the transformative, and in some cases disruptive, impact it may have in industries as diverse as automotive, shipping and oil & gas. As...
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23
Jun

Do you know you have a wicked problem and do you know how to solve it?

Oil & gas projects are some of the most complex in the world; they are often a series of interrelated problems which are increasingly difficult to solve. Bringing value and certainty to the oil & gas industry requires approaching these challenges in an innovative fashion and cognisant of their complexity. In 1973 two Berkeley professors,...
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08
Jun

Are you unknowingly destroying value with your capital value process?

Introduction In 2011 78% of upstream oil and gas megaprojects faced either cost or schedule overruns according to an industry study by the Independent Project Analysis (IPA); in 2014, research by Ernst and Young found 64% of projects faced cost overruns and 73% of projects faced schedule overruns[i] and in 2017 the UK Oil and...
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26
May

The only constant is change

The way we conduct business is changing, the oil and gas industry is changing and the rate of change is accelerating exponentially. The accelerating change is born from a confluence of factors: technology acceleration and the 4th industrial revolution, driven by Moore’s Law, Butter’s Law and other similar descriptors of technological evolution; the lower for...
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28
Feb

Talking in code

Open sourcing and how the oil and gas industry can benefit In 2003 and 2004 Google published two technology papers, “Google File System” [1] and “Google – Map Reduce: Simplified Data Processing on Large Clusters” [2]. While not containing the actual code, these two papers set out the concepts behind Google’s unique search engine. In...
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17
Feb

How knowing your VR from your AR or MR will open a whole new digital world of possibility for oil and gas

Are you up to date on technology trends with potential oil and gas applications? Heard of Pokemon Go? Know your AR from your MR? Tried a virtual reality system? If not read on…. We all know the world changes and no matter who we are, what we do or which country we are in, most...
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27
Jan

Have you thought about getting digital with data?

At io we give considerable thought to how new and innovative technologies can help enable our client’s projects. We, like many others, believe the Industrial Internet of Things (IIoT) and the trend stet digitisation can offer the oil and gas industry the biggest value opportunity of our generation. Here at io we look to embed...
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16
Dec

How good is your decision making? … And are you certain about that?

At the very heart of being human is the ability to have rational thought and ultimately make decisions, whether it be the smaller every day decisions we may make without much thought, such as what to have for breakfast or more life defining moments with significant consideration behind such as deciding whether to emigrate. Some...
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