By

Duncan McLachlan
07
Jul

using adversity to drive innovation in reservoir focused technology by John Ciccarelli

It is often said that ‘necessity is the mother of invention’ and there are plenty of examples of this, ranging from the eBook, which physicist Joe Jacobson created when he finished a book he was reading and realised he hadn’t brought another[1] to Japan’s need to produce high quality consumer goods to stabilise its economy...
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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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15
Jun

From cartels to perfect competition…

When it comes to the oil price, an economist’s forecast is only as good as the next person’s guess … here at io, we take a look at the macro economic factors affecting the oil markets today. It was over 20 years ago whilst studying economics that I was introduced to the notion of perfect...
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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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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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17
Nov

how can the oil and gas industry exploit the big data revolution?

In a world in which new innovations are constantly changing the way we do business, the term “big data” is never too far from the headlines. Big data refers to datasets of unprecedented scale, which, if analysed properly, can provide business with new and exciting insights into how they can improve and streamline their business...
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