Sustainable operations in APAC energy companies.
In a recent IDC Report titled IDC PeerScape : Leveraging Digital Transformation for Sustainable Operations, IDC reveals three practices energy companies can use to accelerate their carbon reduction plans and address the challenges they face when undertaking Digital Transformation (DX).
According to an IDC survey, 90.2% of energy companies in Asia/Pacific have set a specific date for net-zero targets, and 95.2% said they have set annual targets for carbon dioxide emissions reductions. However, concrete steps need to be taken to operationalize these goals by adopting new technologies – currently a challenge due to the inadequacy of existing infrastructure – and harnessing the data to track and report on emissions accurately. Most of the available data is siloed on legacy infrastructure and is not readily available.
“It is critical to assess the various strengths and weaknesses of an organization and take a measured approach to removing internal silos by leveraging new technologies to drive energy efficiency and improve asset performance,” says Rakesh Patni, Associate Research Director, IDC Asia/Pacific Energy Insights.
Three best practices for oil and gas organizations for operational sustainability are as follows:
Practice #1. Migrate to multicloud platforms for greater flexibility and scalability – Transition to real-time operations management by overcoming silos and migrating to cloud platforms.
Practice #2. Drive energy efficiency with site planners and simulation models – Quantify energy consumption and losses and create systemwide models that optimize operations.
Practice #3. Improve asset performance with predictive maintenance capabilities – Improve efficiency and sustainability performance with predictive rather than reactive maintenance.
Energy companies recognize the need for new strategies that will help them keep pace with the global energy transition that is underway. Increasing pressures from consumers, shareholders, and government regulations mandating carbon emissions reductions are forcing energy companies to understand their carbon footprint better and revisit their current policies and practices in carbon dioxide tracking and reporting.