Digitizing our business
Harnessing data and digital technologies to transform our operations.
Our digital ambition is to provide enterprise-wide, scalable solutions to help improve our safety performance, reduce operational emissions, lower our cost of supply, and improve the efficiency of our operations.
When combined with the skills of our workforce, digital technologies are critical to making our assets and processes more intelligent and automated.
Innovation as a Core Value
How we work drives our performance. We are developing digital proficiency to cultivate in-house expertise, enabling us to respond to the changing needs of our industry. Through our citizen developer program, data analytics training, rotation programs and hands-on experiences, we equip our employees to solve enterprise challenges and deliver optimized digital solutions.
How We Do It
- Streamlining processes through digital solutions and automation, including automating our field operations.
- Connecting our data across the company and putting information in the hands of the right people at the right time so they can make well-informed decisions.
- Organizing and analyzing vast, complex data into insightful analytics.
Driving a culture of innovation and continuously learning emerging technologies.
Digital technologies
We apply innovations in digital technology to solve challenges. Some examples include:
Artificial Intelligence and Machine Learning (AI/ML)
With Artificial intelligence and Machine learning (AI/ML), we’re utilizing data and algorithms to make predictions and take prescriptive actions within automation workflows. For example, we’re applying AI/ML to optimize equipment and extend machine life. It could also be applied to a Robotic Process Automation (RPA) to learn to adapt to system upgrades, ultimately making virtual workers (BOTs) more resilient to digital change.
Automation
Automation is the umbrella of digital technologies that reduce human activity in processes by predetermining decision criteria, subprocess relationships, and related actions. For example, we apply RPA to automate business processes that are rules-based, structured and repetitive. Other components of Automation include Intelligent Optical Character Recognition, Process Mining and Digital Assistants. Our employees have used Automation to save over 100,000 hours of human processing every year, making Automation a key component to drive digitalization across the company to deliver business value.
Data Analytics
Data Analytics is the science of analyzing raw data to make conclusions, predictions and drive informed decision-making. We use data analytics to harness the vast amount of data we generate to drive value across our business. Data analytics can be applied to all facets of our business to achieve greater operational efficiency, optimize plant productivity, minimize drilling times, enhance completion designs, fast-track basin screening capabilities and make critical safety information easily accessible.
Digital Twins
Technology allows us to visualize, monitor and simulate numerous scenarios virtually. Through our digital twin technology, we can see a virtual representation of a physical object connected to relevant data, allowing us to test engineering and operational hypotheses in a real-time controlled virtual environment. The technology integrates key operational and engineering data, such as process conditions, design conditions, and drawings and engineering documents. This enables real-time, value-based decisions, actionable insights and improved resource optimization.
Drones
As an increasingly valuable tool, drones provide actionable, operational and safety information, and assist with asset integrity. We're also using drones to increase asset inspection frequency and mitigate personnel risk by limiting high-risk activities such as working at heights and to reduce drive time.
Internet of Things
The Internet of Things (IoT) is a core digital technology ConocoPhillips is using to transform an analog world to digital. This new category of generally inexpensive devices, such as sensors and wearable safety monitoring, creates data from previously unexpected sources. With IoT, we're leveraging this new data to digitize our operations at lower costs and maximize the use of machine learning and artificial intelligence to improve outcomes.
