Independent Companies Business Model in Oil & Gas and Petrochemicals

The Independent companies of the Oil & Gas and Petrochemical market develop a new business model to award EPC contracts.

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Independent Companies

Independent companies definition. Independent companies refer to Oil & Gas and Petrochemical operators that are neither international oil companies (IOCs) nor national oil companies (NOCs).

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General Data Protection Regulation (GDPR)

The General Data Protection Regulation (GDPR) is the new directive adopted by the European Union to regulate data privacy between citizens and organizations.

This law will come into effect the 25 May 2018 and will apply to every company processing data from EU citizens, even if the organization is not EU-based. GDPR is a major breakthrough for privacy and security in an increasingly data-driven world.
This directive aims to give EU citizens control over their personnal data, while giving greater responsability to organizations data management.

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Blockchain

Blockchain is a technology allowing an ecosystem to store and share information without the supervision of a control center. In fact, it is a distributed data base where information are checked and arrange in blocks at regular time interval. Creating a « chain of blocks », these remote registers are able to secure all the transactions between users since the system was created.
Protected by cryptography, the blockchian makes it possible to establish a trust between users.

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Technology Readiness Level

Technology Readiness Level (TRL) is a methodology to estimate the maturity of a technology. Based on observations, formulations, experimentations, and running feedbacks the TRL approach is used to position the progress of a technology on a scale ranging from observed concepts (1) to validated operating systems (9).

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Proof of Concept

A Proof of Concept, or mostly referred as “PoC”, is the earliest step of development of any Use Case within digital organisation. The PoC ambition is not to overwhelm the total Use Case but to prove the efficiency of the selected solution to tackle it. The PoC targets to explore the resolution of a pain point in a short time with little expense.

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Digital Twin

Digital Twin is a virtual model of a real process, object or service. The contrast between Digital & Physical Twins highlights deviations between predicted and real scenarios allowing to optimize the execution, operation and return of experience.

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RAMI 4.0

Definition RAMI 4.0, or Reference Architectural Model Industrie 4.0, is a three-dimensional map showing how to approach the issue of Industrie 4.0 in a structured manner. RAMI 4.0 is a unified model for all the components that ensures all the participants involved in a Industrie 4.0 ecosystem to share data […]

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Industrie 4.0

Industrie 4.0 is the name of the German Futur of Manufacturing Program, launched by Angela Merkel at Hannover Fair in 2014.
The objectives of this digital program are to maintain the position of the German Industry despite the competition of actors like China, and to strengthen their economy in light of the 2008 financial crisis.

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Industrie 4.0 or Industry 4.0?

This post reminds the history of Industrie 4.0 and explains the key features supporting this technology to deploy internet of things (IOT) in practice. In conclusion it shares good practices to avoid misunderstanding in using the uncorrect English spelling Industry 4.0.

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