Permian application to generate billions of dollars in value over the next decade and drive capital efficiency Potential to expand production by as much as 50,000 oil-equivalent barrels a day by … ExxonMobil is a direct descendant of Standard Oil, which was founded in 1870, and the company has had to survive more than 100 years in technological advances. ExxonMobil holds an industry-leading inventory of resources, is one of the largest refiners and marketers of petroleum products, and its chemical company is one of the largest in the world. Because technology was named a key player for its $31 billion goal, the company had to confront the … The application of Microsoft technologies by ExxonMobil’s XTO Energy subsidiary – including Dynamics 365, Azure, Machine Learning and Internet of Things – is anticipated to improve capital efficiency and support Permian production growth by as much as 50,000 oil-equivalent barrels per day by 2025. Thank you for subscribing. “There is ripe opportunity for the energy industry to transform how we leverage our data flows,” said Anish Patel, ExxonMobil’s Permian technology integration manager. ExxonMobil VP of IT Mike Brown is transforming his organization into an integral part of the oil and gas giant, which is helping fuel digital transformation. ExxonMobil engineers and Microsoft programmers are working on a digital transformation, Expanding the energy frontier in every direction. The Digital Operations Transformation (DOT) model is such a road map—a digital journey of 10 milestones, where the leap from one stage to another marks the achievement of specific business objectives, and puts cybersecurity and an organization’s digital … For more than 135 years, we have pioneered the science and research that enables innovative technologies, changing our industry and the world. ExxonMobil's primary responsibility is to produce the energy and products the world needs in a responsible manner. Ultimately, the partnership with Microsoft is expected to generate billions of dollars in value over the next decade, driving capital efficiency and increasing production by up to 50,000 barrels of oil equivalent per day by 2025. GEP Innovate Digital: 2020 Vision was a digital conference that took place from October 27 to 29, 2020. Review corporate performance data, learn about our business model, read about our outlook for the energy industry, meet our management committee and more. Stay up to date with the latest from ExxonMobil. A chance Facebook friendship between an Atlanta-based physician and a digital transformation expert from ExxonMobil could help unlock a wave of medical masks that health care workers need to help … Read ExxonMobil's 2019 Annual Report and 2019 Financial and Operating Review to learn about the company's competitive advantages in technology, scale, integration, functional … ExxonMobil’s partnership with Microsoft includes an integrated cloud environment that securely and reliably collects real-time data from oil field assets spanning hundreds of miles. References to oil equivalent barrels include quantities that are not yet classified as proved reserves but that are expected ultimately to be moved to the proved reserves category and produced in the future. ... Digital transformation… University and National Labs partnerships, Innovating Energy Solutions: R&D Highlights, voluntary actions to manage methane emissions, Permian application to generate billions of dollars in value over the next decade and drive capital efficiency, Potential to expand production by as much as 50,000 oil-equivalent barrels a day by 2025, Largest-ever oil and gas acreage to use cloud technology. For more information, visit www.exxonmobil.com or follow us on Twitter www.twitter.com/exxonmobil. Undertaking a #digitaltransformation is a concerted effort and a journey. Discover the latest software purchases and digital transformation initiatives being undertaken by ExxonMobil and its business and technology executives. All Rights Reserved. Both have apps that are available for free on iPhone and Android devices. Alysa Taylor, corporate vice president of Microsoft Business Applications and Industry, said ExxonMobil is taking a leadership approach in its digital strategy. “Digital technology is a fundamental enabler for our Permian development,” said Gjervik. “Our cloud infrastructure and business applications will continue to support ExxonMobil as it fully realizes its strategy across the Permian.”. Undertaking a #digitaltransformation is a concerted effort and a journey. Apr 2020 – Present 4 months. The utility of data as a driver of digital transformation … #ExxonMobil shares its approach to digital strategy, which fundamentally changed its value proposition and … Vice President Exploration and New Ventures, Asia Pacific … Actual future results, including project plans and timing, future production rates and cash flows, and the impact and results of new technologies, including productivity and efficiency gains and emission reductions, could vary depending on the outcome of further research and testing; the development and competitiveness of alternative technologies; the ability to scale pilot projects on a cost-effective basis; technical and operating factors; and other factors discussed in this release and under the heading “Factors Affecting Future Results” on the Investors page of ExxonMobil’s website at exxonmobil.com. Importantly, leak detection and repair response times could be further reduced with enhanced access to emissions data, strengthening XTO’s voluntary actions to manage methane emissions. “What was possible 10 years ago is nothing like what we’re doing today, and that trend of rapid innovation will only exponentially accelerate going forward.”. In the Permian Basin, one of America’s most bountiful unconventional fields, ExxonMobil engineers and Microsoft programmers are working on a digital transformation that will maximize output from ExxonMobil’s … Examples include mobile field data apps to optimize well performance, and AI algorithms for analyzing drilling and completions data to improve performance. At ExxonMobil, which has more than 11,500 fueling stations nationwide, technology leaders realized the timeworn process of refueling needed to join the digital era and become mobile and more engaging. Be sure to list Energy Factor as a safe sender to receive our newsletter. © Copyright 2016-2020 Exxon Mobil Corporation. Vice President Digital Transformation Upstream ExxonMobil. While Artificial Intelligence (AI) still has that “new car smell,” it needs clean data in its fuel lines. ExxonMobil’s application of these technologies in its Permian Basin acreage, which covers a 9.5 billion oil-equivalent barrel resource base and more than 1.6 million acres, represents industry’s largest acreage position using cloud technology. Microsoft (Nasdaq “MSFT” @microsoft) enables digital transformation for the era of an intelligent cloud and an intelligent edge. It’s in this garage where … The newest way ExxonMobil is leveraging digital is through the launch of its first-ever mobile application. “The unconventional business is fast moving, complex and data rich, which makes it well suited for the application of digital technologies to strengthen our operations and help deliver greater value.”. The proceedings of the conference are available here for On-Demand viewing Please check your email to validate your sign up. For ExxonMobil, the transformation includes integrating Amazon Business into their e-procurement system, Smart by GEP (known internally to ExxonMobil as " BuySmart "), one of more than 110 e … Thank you for subscribing. CPLANE.ai and ExxonMobil to work on digital transformation. With … Its mission is to empower every person and every organization on the planet … Master CIO Interview: The Digital Business Journey Begins at ExxonMobil Published: 03 November 2016 ID: G00317842 Analyst(s): Rich McAvey Summary This research profiles the digital business … As one of the world's largest publicly traded energy providers and chemical manufacturers, ExxonMobil develops and applies next-generation technologies to help safely and responsibly meet the world's growing needs for energy and high-quality chemical products. Uchariya brings a proven track record of success leading all aspects of IT, including strategy, architecture, and digital transformation to his new role. Houston, Texas, United States. Already subscribed? Contact: ExxonMobil Media Relations, +1 972-940-6007. All Rights Reserved. “ExxonMobil is leading the way for industry, grounding their goals in making data-driven decisions that will result in safer operations for their employees and more profitable activities for the company,” said Taylor. "PIDX International … CPLANE.ai has announced that it has engaged with ExxonMobil in its efforts to accelerate the development of digital infrastructure … digital transformation Last year, ExxonMobil announced plans for "aggressive growth," pushing to double its earnings by 2025 without changing customer pricing. “Microsoft is focused on the business outcomes of our customers, with customer success as a top priority for empowering organizations to achieve more,” said Kate Johnson, president, Microsoft U.S. “Our partnership with ExxonMobil has the potential to transform the energy industry in how to leverage data to increase and maximize production.”. With the additional layer of Microsoft’s intelligent business applications, such as Dynamics 365, ExxonMobil and XTO will have a complete, end-to-end view of the Permian operations. The data will enable ExxonMobil to make faster and better decisions on drilling optimization, well completions and prioritization of personnel deployment. Are you a member of the press or an investor? Collaboration with Microsoft is key to our future development efforts, which include predictive maintenance capacities, innovative tools for employees, and artificial intelligence and machine learning integration.”. Cautionary Statement: Statements of future events or conditions in this release are forward-looking statements. Bandsintown and ExxonMobil have both established digital mobile capabilities that reach millions of users. Gartner’s Peter Sondergaard took it a step further, calling analytics data’s combustion engine. And, some of ExxonMobil’s greatest emerging technologies also start in its “digital garage,” though the workspace there is cutting-edge, rather than makeshift. ExxonMobil, the largest publicly traded international oil and gas company, uses technology and innovation to help meet the world’s growing energy needs. Click here to continue on to site. Learn more about ExxonMobil’s and other leading companies' digital transformation journey at CoRE Tech on Nov. 13-15 in Silicon Valley. © Copyright 2003-2020 Exxon Mobil Corporation. “Digital transformation and interoperability is on the immediate agenda of all companies in oil and gas,” Chris Welsh, chairman of the PIDX board, said in a statement. Welcome to the oilfield of the future, where wells across hundreds of miles communicate with each other and operators can rely on data-driven insights and real-time automation to make faster, smarter decisions. Your browser version does not support copying to clipboard. Sensors will be able to deliver real-time data, like pressure and flow rates from wellheads, to cloud computing solutions that can run thousands of computations per second, allowing for quicker analysis of production. Each quarter our research … ExxonMobil aims to use Microsoft Azure, Dynamics 365 to wring more oil, profit out of Permian Basin. In the Permian Basin, one of America’s most bountiful unconventional fields, ExxonMobil engineers and Microsoft programmers are working on a digital transformation that will maximize output from ExxonMobil’s more than 1 million acres of operation, making this the largest-ever oil and gas acreage to use cloud technology. We are committed to meeting the growing demand for energy, while at the same time reducing the environmental impacts. Microsoft (Nasdaq “MSFT” @microsoft) enables digital transformation for the era of an intelligent cloud and an intelligent edge. The suite of Microsoft digital tools will allow field operators to collect loads of data every second, which can be analyzed by onsite operators, engineers and researchers across the country. CoRE Tech 2019 is the leading conference on … “Data is the new oil.” The quote goes back to 2006, credited to mathematician Clive Humby. “The combination of Microsoft’s technologies with our unique strengths in oilfield technologies, production efficiency and integration will help drive growth in the Permian and serve as a model for additional implementation across the U.S. and abroad,” said Staale Gjervik, senior vice president, Permian Integrated Development for XTO. DevOps and agile are playing a vital role in ExxonMobil's digital transformation. “Through our partnership with Microsoft, we’re combining our technical and engineering expertise with cloud and data analytics capabilities to develop the Permian resource in the most capital-efficient manner. Microsoft’s platforms, including Azure Data Lake, will enable ExxonMobil to rapidly incorporate third-party solutions at scale across the Permian. 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