Energy 4.0 – the Next Frontier

We stand today on the edge of a new frontier. Not one based on hopes and dreams, but on a crisis.

The increasing demands on currently available sources is a cause of concern to all stakeholders, and with the world energy supply and demand based largely on factors outside the industry’s control there is a need to create flexible and robust strategies as we work together to make the search for (and further development of) new renewable resources a priority.

As we walk the tightrope into the new energy market there are compelling reasons to stand prepared for the new opportunities to create clean, safe and sustainable energy which will provide energy and funding to an evolving market landscape.

Borrowing from the words of Winston Churchill, “don’t let a good crisis go to waste” . . . - let’s combat this crisis with resilience; resilience built around the ability to improve efficiency, adapt quickly, reduce waste and manage risk. This new frontier is enabled by growth in digital technology, Turning Uncertainty into Strategy.

The very first major industrial revolution occurred towards the late 18th century when manual labor began to be replaced by mechanical production. A century later, the second revolution occurred with the application of electric power. And then the advent of computers and automation brought about the third revolution.

Today, with - data analytics, artificial intelligence and machine learning - smart and interconnected devices / systems deliver improved efficiency to our energy production operations. Combining the visibility and insight these digital applications provide with the knowledge and data acquired over the years; hybrid (data driven and physics based) systems will –

• Improve predictability & flexibility of operations
• Simplify operations & reduce unit cost of energy
• Lower carbon emissions & minimize safety risk   

In the same way to the progression Industry 4.0 in the manufacturing sector, this digital revolution is required to ensure cleaner, safer and sustainable production of hydrocarbons required to drive the development of renewable generation, energy storage and flexible loads. It will also be required to support economic activities of nations and regions as they seek to swap out of older models for newer and more efficient technology.