Schlumberger CEO Olivier Le Peuch enthralled the 1,250-strong audience in the packed main auditorium at the KKL, as he opened the first day of the Schlumberger Digital Forum 2022. Olivier presented a clear vision of a future where connected workflows, operations, and partners deliver a cleaner, more efficient, and sustainable energy industry.
We also heard from Amin Nasser, CEO, Saudi Aramco. Together, both CEOs announced the new collaboration between their two companies on the main stage.
A connected future is a bright future—Olivier Le Peuch
Oliver Le Peuch opened the Digital Forum this morning, with a clear vision: the future of our industry is a Bright Future. He said digital has the power to accelerate the industry’s energy transformation by connecting workflows, connecting operations, and connecting partners.
He reminded us that the energy industry has been at the center of how society itself has grown; fueling ideas, innovation, and great progress, concluding that it must now fuel change. Olivier said the energy transition is the largest and most significant transition ever contemplated or attempted in the history of our planet, and through a connected digital ecosystem, Schlumberger is creating the conditions to re-invent our industry, moving towards a higher-value, lower-carbon future, and a balanced planet.
Big Announcement: Schlumberger and Aramco Collaborating on Digital Sustainability Solutions for Hard-to-abate Carbon Industries
Following their plenary speeches, the CEOs of Aramco and Schlumberger used the main stage to announce plans for the two companies to collaborate and develop a digital platform that will provide sustainability solutions for hard-to-abate industrial sectors.
The proposed platform will enable companies in industries such as oil and gas, chemicals, utilities, cement, and steel, to collect, measure, report and verify their emissions, while also evaluating different decarbonization pathways. This will help them manage their carbon footprints more effectively by increasing the availability and visibility of relevant data in a transparent and flexible solution.
Everything Connected Panel
Meg O’Neill, CEO and managing director, Woodside Energy
Arvind Krishna, chairman and CEO, IBM
Felipe Bayón, CEO, Ecopetrol
In the first panel discussion of the Digital Forum, Everything Connected, leaders from IBM, Ecopetrol and Woodside Energy discussed their digital strategies and wider thoughts on connectedness in energy.
We learned that AI works better when it is deployed across processes, and that it is vital to break down data silos.
When discussing the value of digital in energy, digital transformation was highlighted as able to deliver efficiencies of around 30% across the energy value chain, meaning it can significantly reduce cost.
Energy Transition Panel
Vicki Hollub, president and CEO, Oxy
Dr. Pratima Rangarajan, CEO, OGCI Climate Investments
Dr. Katharina Beumelburg, chief strategy and sustainability officer, Schlumberger
The focus of today’s second panel was energy transition, decarbonization, and sustainability, with leaders from Oxy, OGCI, and Schlumberger. Early on, we heard that energy sector is not the only industry in transition, as all must re-invent themselves and decarbonize. Indeed, energy is in a strong position to lead the way, because it has innovated faster than many others.
All agreed that carbon capture, utilization, and sequestration (CCUS) is a vital technology in the energy transition. We heard how it can be utilized to create ‘net zero’ oil—using CO2 for enhanced oil recovery, meaning we put more carbon into reservoirs than we create in emissions.
Methane’s potency as a much more harmful greenhouse gas than carbon, was noted, and that reducing it was a ‘low hanging fruit,’ because digital technology can help illuminate its emissions and estimate future reductions.
All agreed that human behavior and willingness to change is a challenge that we must overcome. Digital was discussed again, as, through measurement and reporting, it will enable the energy industry to be transparent, have integrity and accountability, and help to restore public confidence.