They say that "Timing is everything", so why is now the right time for RightTime?

Well, our team believe there is the opportunity to build a <strong>World-class Oil & Gas Digital Oilfield Platform</strong> right here in Perth because of the confluence of three separate industry waves that are all merging together in Western Australia at this very point in time. Let's consider each of these:

<p style="font-family:Segoe UI;color:black;font-size:140%">1) Western Australia is set to become the global capital of LNG production</p>
Over the next three years, Chevron's <strong>Gorgon</strong> and <strong>Wheatstone</strong> projects, Shell's <strong>Prelude FLNG</strong> project and INPEX's <strong>Ichythys</strong> project all come on stream. These mega-projects build on top of the ongoing <strong>North West Shelf</strong> joint venture led by Woodside, and combine to make Western Australia the single biggest LNG producing region in the world. Perth will become a major oil & gas centre at the top table with the likes of Aberdeen and Houston, creating opportunities for local service firms to gain global exposure.</p>


<p style="font-family:Segoe UI;color:black;font-size:140%">2) Digital Oilfields are finally ready for "Prime Time"</p>
While oil and gas operators, led by Shell and Statoil, have deployed computerised systems since the 1970s it has only been since the turn of this century that these technologies have developed to the extent where workflows can sufficiently integrate across systems and functional groups to provide useful decision support in real-time. While <em>Digital Oilfields are still in their infancy</em>, industry-wide 'lessons learned' from earlier forays have become available so that operators can nowhope to successfully navigate the complexities of these systems.


<p style="font-family:Segoe UI;color:black;font-size:140%">3) The Rise of Data Science: Big Data, Machine Learning & AI</p>
Led by companies such as Google, Tesla and Amazon, there has been a seismic shift in the use of advanced data science to generate insight. However incorporating these technologies into oil and gas will not be easy, practically or culturally. Chief among the challenges is a common misconception within oil and gas IT departments that they are <em>already</em> engaged in Big Data (as opposed to what they are really doing; batch processing 'lots of data'). In addition, another common mistake is for Data Science teams to lead the effort - when those who understand the challenge realise that the effort must be led by Petroleum and Reservoir Engineers with Data Scientists acting as a support team. Fortunately however there are now case-studies and documented research that demonstrate how machine learning can enhance decision making and add real value to the bottom line.

