Kongsberg Digital's inside scoop on S&P Global's CERAWeek 2023 event

Kongsberg Digital's inside scoop on S&P Global's CERAWeek 2023 event

March 21, 2023
Time to read: 8 minutes

CERAWeek 2023 is a wrap

Our industry experts joined exciting discussions and shared their knowledge about how new technologies can tackle the many challenges faced by the energy industry - and how these technologies offer new opportunities to enhance the industry's efficiency and sustainability.

Between connecting with other attendees and showcasing what the Industrial Work Surface can do, they also took some time to gather the latest industry trends. Here?s the inside scoop!

What is CERAWeek?

CERAWeek by S&P Global brings together leaders from the energy industry, academics, government officials, financial leaders, executives, and technology innovators, making it the primary event of its kind. Over the past four decades, CERAWeek has offered an in-depth overview of upcoming trends in global energy markets and technology.

This year's event was the biggest yet, with attendance including over 8000 delegates and 1400+ speakers from more than 90 countries. Major themes included investment requirements, limitations in supply chain and infrastructure, soaring energy costs, economic volatility, and the role of technology advancements in transforming the industry for smarter, safer, and greener operations.

Brian Sidle, Director

This year at CERAWeek we saw a focus on the United States Inflation Reduction Act which will both drive and support the increasing complexity in the facility space. The Industrial Work Surface can facilitate the addition of conventional and non-conventional green sources of energy by offering a portfolio platform for assets that offer capabilities such as simulation and guidance for off-take.

Yes, there are challenges with making energy sources more sustainable - but as discussed throughout the week, technology is a promising way to decarbonise operations. CCUS facilities connected to Upstream and Midstream was a prominent topic in several panels. Here, technology can help to monitor, benchmark and forecast GHG contributions to benefit operator portfolios.

CERAWeek shows how energy impacts all aspects of business: regulations, the energy transition, remote operations, human resources, supply chain efficiency. These are all areas where digitalisation can accelerate progress and address the urgency to balance growing power demands worldwide.

Brian Sidle presenting the Industrial Work Surface at CERAWeek 2023

What is the Inflation Reduction Act?

The United States Inflation Reduction Act (IRA) provides a significant opportunity for greener ways of working. With $370 billion in potential rebates available for environmentally friendly water and heating systems, as well as electric vehicles, businesses can receive tax credits for investing in lower-emission equipment. Renewable energy developers can benefit from offsetting upfront costs. However, this momentum towards a greener future will require significant changes, including a shift in the way operators think, a retooling of the transmission network, and a change in the sources of power.

Haavard Oestensen, VP

"Our story at Kongsberg Digital fits with many of the broader narratives from CERAWeek, especially when it comes to new ways of working. Set a vision for your organisation?s digital goals, establish a team to own it, and begin driving forward the MoC process now.

Your data will never be perfect. But if you don't get started today, you'll just fall further behind. The leaders at CERAWeek are focused on action, finding ways to do things differently, and getting things done - we couldn't agree more."

Lawrence Benson, Manager

"CERAWeek is a great platform to talk about technology as an enabler for the industry. What we heard from other attendees is that operators need viable technologies built by companies with long-term commitments and a deep understanding of the need to scale. Continuous innovation, partnership ecosystems, and new business models to enhance the economics of the energy transition - these will be the main drivers going forward.

CERAWeek had lots of themes, but one that stood out to me was problem-solving. The energy industry is complex. It needs natural problem solvers, like us here at Kongsberg Digital. From molecules to electrons, we're helping operators build a comprehensive understanding of how energy is powered by data - and how this data can help reimagine the future of energy operations."

Did you miss CERAWeek 2023?

Meet us at Future Digital Twin on 28 March 2023. Sign up here: Future Digital Twin | Future Oil & Gas (futureoilgas.com)

Make sure to follow us on LinkedIn for news, updates, blogs, and more as we continue to digitalise the world's industries through game-changing technology - for a better tomorrow.

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Kongsberg Digital's inside scoop on S&P Global's CERAWeek 2023 event

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