Cairn Oil & Gas Leads the Way in Digitalization of Indian E&P Sector; Signs MoU With 5 Digital Start-ups in DigiXplore 2019

Cairn Oil & Gas, Vedanta Limited, India's largest private sector oil and gas company, today launched DigiXplore 2019. The conference was aimed at exploring ways to achieve greater collaboration and efficiency through digitalisation in the oil and gas exploration and production (E&P) sector. Digitalisation can enhance both performances as well as processes, driving production optimally and faster for the country's oil and gas sector.

The event was graced by Dr V.P. Joy, Director General, Directorate General of Hydrocarbons, who presided as Chief Guest, and Mr Amar Nath, Joint Secretary, Ministry of Petroleum and Natural Gas, Government of India, Guest of Honour, delivered the keynote address.

At the conference, Cairn signed five MoUs with digital start-up firms to pursue projects in the area of technology development and digitalisation. The start-up firms are Probotiq Solutions Pvt. Ltd., Detect Technologies, Simulanis Solutions Pvt. Ltd., Usnatek and Incedo Technology Solutions Ltd.

Ajay Kumar Dixit, CEO, Cairn Oil & Gas, said, "Digitalisation is a key enabler to ensure asset uptime, optimised production, and most importantly, safety. I believe digitalisation is vital to Cairn's vision to produce 50% of India's crude oil, because only with data can we drive speed in exploration."

"DigiXplore is an initiative to encourage oil and gas and technology players to come together and find ways to deploy their expertise in India's energy efficiency drive," he added.

Speaking at the event, Anand Laxshmivarahan R., Chief Digital Officer, Cairn Oil & Gas, said, "The oil and gas industry is witnessing a transformation globally, with the advent of digitisation and now, digitalisation. We embarked on Project Digital NIRMAN last year, to bring in digital-led business transformation at Cairn. The response from partners and stakeholders at DigiXplore has been overwhelming and we are very excited about the opportunities such as collaborative thinking presents."

The conference deliberated on focused themes, including:

1. Reducing Time-to-First Oil: Conventional and Unconventional

2. Maximizing and Growing Existing Assets Through Digital Intelligence 3. Digital Interventions in Operational Excellence: Look Before You Leap

DigiXplore 2019 saw participation from both public and private sector E&P players, operators, technology, digital, consulting companies as well as media. Key officials from Oil India Limited, Indian Oil Corporation Ltd, Schlumberger, Halliburton, Amazon Web Services, Wipro, IHS Markit, Boston Consulting Group, GE, Shell, Siemens, Honeywell, PwC, and Accenture participated as well, among others.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)