How Hexagon creates value for the oil and gas industry

Time to refine the industry?

Actually, no. With the demands placed on oil and gas today through regulation, carbon emission and the growth of renewables, not to mention the underlying complexity of projects and assets, the industry requires a much higher grade of disruption to ensure necessary returns going forward.

Investments in digital transformation today – to drive efficiency, optimal decision-making and ultimately better use of finite resources – can be the differentiator to achieve business transformation in the days and years ahead.

Hexagon solutions drive successful digital transformation across the entire asset lifecycle from the earliest stages of project ideation and planning through excellence is asset operation.

With projects investments recovering, but lagging behind pre-COVID levels, the ability to select the right projects and execute them efficiently is more important than ever. Relying on manual processes and decentralised spreadsheets is time consuming and exposes projects to unnecessary risks. The need for accurate forecasts and effective progress reports is essential in successfully delivering on organisational goals and objectives.

Enterprise project performance technology helps you digitalise, centralise and standardise key processes. Approaching project performance from an enterprise-wide perspective improves efficiency, predictability and control across your organisation and allows you to confidently make decisions that improve project outcomes.

Ultimately, you can construct new plants and facilities more efficiently with integrated design, information-rich 3D models and enhanced workflows that increase productivity, consistency and margins.

The creation of solid operations management data systems by digitalising your operational processes, procedures and permits is a strong first step on the road to digital transformation. Critical asset, situational, qualitative and quantitative information should be captured, structured and stored digitally – and more importantly, organised and made available to support safety-critical operational processes.

Hexagon’s oil and gas industry solutions can make your important shift, operator round, personnel, safety, maintenance and process information visible and viable to users across the entire organisation. These on-premise or SaaS solutions are designed to foster greater communication, coordination, transparency and knowledge transfer between teams, leading to improved safety and productivity, reduced operational risk and a more empowered and engaged workforce.

The digital thread provides a means to navigate between the various digital twins used throughout the asset lifecycle to help oil and gas organisations understand the “intent” behind their design, strategy and process. The digital thread positively impacts enterprise-wide safety culture, engineering and operations collaboration and efficiency, and ultimately the bottom line of the balance sheet.

The digital thread also enables owners and operators to build and maintain an information management data ecosystem throughout the asset lifecycle, enabling a continuous journey of operational excellence. By deploying a comprehensive digital thread, complex data can be analysed and transformed into actionable information. The significance of this ultimate digital platform is that it opens the door to the competitive advantages made possible by using predictive and prescriptive analytics, artificial intelligence (AI), machine learning and automated decision-making across the value chain.