The divisions of Digital & Integration (D&I), Reservoir Performance (RP), and Well Construction (WEC) organized the “Digital Transformation in the Energy Industry” workshop on April 13th in Santa Cruz de la Sierra, Bolivia.
ISSUE 118 | 2023
SLB/ENERGÍABolivia
More than 140 clients from different companies such as YPFB Corporación, YPFB Andina, YPFB Chaco, Petrobras Bolivia S.A., Repsol E&P Bolivia S.A., TotalEnergies E&P Bolivia, Vintage Petroleum Boliviana LTD., and Zeus Energy participated in this event.
Representatives from SLB Bolivia, Argentina, and the United States attended the event, presenting the latest developments in digital solutions and innovative workflows that have demonstrated efficiencies and improvements in subsurface understanding, drilling, and production optimization. Experiences and case studies in the exploration and production of unconventional reservoirs were also presented, along with an overview of SLB’s experience in New Energies.
SLB believes that as the energy industry evolves, it is essential for companies to stay at the forefront by leveraging new technologies in the energy sector. “Our ambition is to accelerate the energy transition with sustainability as a fundamental pillar of our business. We firmly believe that Bolivia has enormous potential for the development of the energy industry, and we will continue to work closely with our clients to meet all the challenges that arise in our country through innovation and the implementation of digital solutions,” states the press release from SLB Bolivia.
THE ROLE OF DIGITAL
The role of digital in the future of low-carbon energy is an agenda topic in this world’s largest oilfield services company. The CEO of the company, Olivier Le Peuch, stated that digital is the “accelerator” for the energy industry to address climate challenges and dual energy access faced by the world.
Le Peuch added, during the SLB Digital Forum in Lucerne, Switzerland, that “our industry is called upon to supply the energy that fills the structural gap of supply and demand and maintains growing economies while rapidly transitioning the energy system.”
He emphasized that in the context of this dynamic energy landscape, operators must find ways to balance more economic opportunities to produce oil and gas reducing the carbon footprint to meet net-zero objectives. Le Peuch pointed out that digital is key to achieving this mandate for a “higher-value, lower-carbon energy future.”
“We enter this future better equipped with digital technology, which is a powerful tool to deliver greater value in terms of performance and decarbonization,” he said.
STRONG GROWTH AMID THE CRISIS
Additionally, in April of this year, Olivier Le Peuch commented: “I am very pleased with our start in 2023. We achieved strong year-over-year revenue growth and margin expansion at a scale that instills greater confidence in our financial ambition for the entire year. The quarter was defined by a strong activity dynamic offshore and in broader international basins, particularly in well construction and production systems.”
He explained that compared to the same period last year, revenues grew by 30%, adjusted EBITDA increased by 43%, EPS excluding charges and credits rose by 85%, and the segment’s pre-tax operating margin expanded by 298 basis points (bps).
Le Peuch noted, “All divisions grew, both in North America and international markets, reflecting the strength of our portfolio across all geographies and product lines. Revenue growth outpaced the growth in the number of platforms both in North America and internationally, representing the highest quarterly year-over-year growth in over a decade.”
“Sequentially, revenues grew by 4% in North America, our eighth consecutive quarter of growth, benefiting from our exposure to the most resilient basins and market segments. At the international level, the sequential decrease in revenues was less pronounced than historical trends, as seasonal effects were partially offset by solid activity gains,” noted Le Peuch.
Finally, he reaffirmed that the company continues to see positive pricing as its performance differentiates, technology adoption increases, contract terms adjust to compensate for inflation, and service capacity continues to decrease in key international markets. “In this environment, our clients are collaborating more actively with us to improve their operational performance, achieve decarbonization goals, and reduce overall costs through increased use of our differentiated technologies,” he emphasized during his presentation report.
