DNV GL’s data platform

DNV GL finds lack of awareness of digital potential in oil and gas. To help things along, the ‘trusted third party’ rolls-out 'Veracity’ an independent data platform for frictionless connectivity.

DNV GL, the Oslo-headquartered consulting, testing and certification company for the global energy sector has surveyed the oil and gas business and found that ‘digitalization of the oil and gas sector has been increasing steadily in 2016, with significant progress in digital technologies, including artificial intelligence, automation, predictive analytics and machine-to-machine communication.’

39% of respondents to the survey, now in its seventh year, report that ‘digitalization is the area in which companies are most likely to invest in 2017,’ with plans for R&D, trials and full-scale implementations aimed at improving profitability and reducing risk.
On the downside, 30% of respondents report that lack of digital culture and funding are major barriers as is the presence of an ‘old-fashioned organizational culture.’ More generally, a lack of awareness among senior management about digitalization’s potential benefits, a skills shortage and ‘bureaucratic obstacles’ are more likely to impede progress than technical and data-related issues.

To help companies accelerate their digital initiatives DNV GL is leveraging its role as a ‘trusted third party,’ to propose an independent industry data platform, ‘Veracity,’ that is intended to ‘facilitate frictionless connections between different industry players, domain experts and data scientists.’ The company is to leverage its experience of oil and gas big data projects that focus on reduced downtime, improved safety, predictive maintenance, performance forecasting, energy efficiency and real-time risk management. In previous work it has emerged that ‘data quality is a major barrier to overcome.’

DNV GL Oil & Gas CEO Elisabeth Tørstad said, ‘Our new industry data platform combines domain expertise and data science to put quality-assured data, the veracity of data, at the center of industry-wide innovation. The aim is to not only build trust, but also boost knowledge and encourage collaboration. Industry needs to be successful at this to leverage the benefits of digitalization.’ DNV GL president and CEO Remi Eriksen added, ‘Companies have always turned to us for independent, expert assessments and best practices – to build trust in the safety, efficiency and sustainability of their physical assets and operations. Now, we are exercising this same role in the digital domain with our Veracity data platform. We are not looking to own data, but rather to unlock, qualify, combine and prepare data for analytics and benchmarking.’

More on Veracity from DNV GL. Read also our interview with DNV GL data specialists on page 3.

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