“Oil is the New Data”: Energy Technology Innovation in Digital Oil Fields

HaeOk Choi and Hwanll Park
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HaeOk Choi: Science and Technology Policy Institute, Sejong National Research Complex 370, Sicheng-daero, Sejong 30147, Korea
Hwanll Park: Science and Technology Policy Institute, Sejong National Research Complex 370, Sicheng-daero, Sejong 30147, Korea

Energies, 2020, vol. 13, issue 21, 1-13

Abstract: Digital oil fields (DOFs) are built on data produced from energy technology innovation during the application of new technologies to oil resource development. In this study, this conversion is examined through the paradigm switch to “oil is the new data”. An analysis of related patents shows that DOF technology is developing through convergence and close links with other industries, specifically the equipment, parts, and material industries. Additionally, it is conjectured that the strategic preemption of standards will emerge as an important policy issue because a standard must be established for the interoperability of the elemental technologies of DOFs. Furthermore, with the expansion of DOF-related technologies, device-related technologies have also been developed. Of these device-related technologies, sensor technology specifically provides new possibilities for the development of DOFs. The significance of this study is that it explains the evolution of DOFs over the course of 10 years, which is illustrative of technological innovation in the field of energy-related development and data collection.

Keywords: digital oil field; oil upstream; technology innovation; oil exploration and production; energy policy (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2020
References: View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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