Japan’s Ministry of Economy, Trade and Industry (METI) is working to support the introduction of digital technologies for exploiting resources such as petroleum and natural gas.
The ministry will set up a platform at the Japan Oil, Gas and Metals National Corp. (JOGMEC) to further trials and personnel training using cutting-edge technologies like AI and IoT. Companies and universities both from Japan and abroad are invited to participate in the platform.
Outside Japan, resource development companies – including major players in the industry – have begun redesigning their business models to employ AI and IoT. Companies such as BP PLC and Total SA have appointed Chief Digital Officers so that management can take the lead in guiding these organizational transitions. Resource-rich countries are also showing interest in digital technology, and want to cooperate with other countries and companies who seek to secure rights to develop their natural assets.
AI that analyzes geological data can lift the success rate of mineral exploration. Going forward, these kinds of efforts at streamlining exploration and production are expected to yield results in terms of improved operational efficiency. Furthermore, new technologies will spur innovations in safety management by helping to detect abnormalities at plants, or by enabling unmanned operations and remote control.
Given the circumstances, the ministry sees a need for Japan to make swift adjustments in the resource development sector. The country will as such hurry to entrench technology that stacks up with the rest of the world, and will use this to secure rights to resources by meeting the needs of the countries where these resources are located.
With its creation of a new platform, METI is looking to emphasize open innovation that brings in a wide range of players from both inside and outside the industry – including domestic resource development firms, plant maintenance companies, universities and research institutions in addition to AI and IoT service providers.
The ministry is also seeking the participation of state-owned oil companies and governments of resource-rich countries, looking to better incorporate the needs of these into the new platform. One idea on the table to bring extra expertise on board is to provide a framework that allows the global market’s major players and AI ventures to join in as well.
oil.vision operates according to government plans introducing digital technologies for oil exploitation and uses the most advanced technologies to achieve the goals.