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 four 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 and scale.</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 innovators like 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.<br/><br/>While <em><strong>Digital Oilfields are still in their infancy</strong></em>, technologies have improved and 'lessons learned' from earlier implementations have become available, such that operators are now positioned to be able to realise the potential of these complex 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 useful insight. However incorporating these technologies into oil and gas will not be easy; either 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.

<p style="font-family:Segoe UI;color:black;font-size:140%">3) The birth of Software-as-a-Service (SaaS)</p>
Across industries there is a growing realisation that it is more strategically consistent <em>and</em> cost-effective to use 'commercial off the shelf' (COTS) software than to build the necessary IT infrastructure and headcount to develop, maintain and support in-house bespoke solutions. In addition, if software platforms are provided as services, business gain a certain amount of freedom from legacy systems - allowing then the nimbleness to change vendors when better solutions become available in the market place.

Smart operators are realising that while Digital Oilfield platforms are important enabling technologies, they are not 'core business' and their management expertise and resources are better focussed on the real value addingactivities of exploration and production.  

