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RESEARCH PRODUCT

Offshore Assets in the Transition from ‘Traditional Business Practice’ to ‘Connected Business Eco-systems’

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In many industrial sectors we have already begun to see how new business ecosystems gradually emerge turning the traditional business practices upside down. Particularly within relatively conventional sectors, such as upstream oil and gas (O&G) and land-based process industry, we expect to see substantial changes in the years to come. In this paper, we elaborate on principal challenges related to major structural changes and core technology platforms for the oil industry identifying critical features and elaborating on emerging operational principles. This is based on a critical review of latest industry conditions and practices that are targeted towards the creation of new business models and processes due to strong industrial forces. Based on previous experiences from various operations and maintenance improvement projects as well as several topside new-build projects (O&G platforms) on the Norwegian Continental Shelf, two examples related to Integrated Operations (IO) are given to demonstrate gradual transformation of the business eco-system, and thus to reflect how the industry sector could be transformed into a new industrial paradigm.