Eugene Pribytkov
Partner (Russia & The Nordic countries), Generation
Vladimir Salnikov
Partner (Spain & Latin America), Generation
Open Up, Majors!
According to Accenture, a digital transformation of the oil and gas industry could generate $1.6 trillion of added value by 2025. Information and technology (IT) solution providers, including startups, are here to help!
Startups are already performing well for some of the major companies, including BP and Repsol. At BP, the company has invested $5 million in artificial intelligence (AI) startups, which resulted in a 90 per cent reduction in the time it takes for data collection, interpretation and simulation. Repsol has accelerated its supply chain procedures using blockchain, delivering savings of $445,000 per year.
Closed markets, inefficient interactions and long implementation cycles are economically unaffordable for startups. A clear process needs to be in place in order to reduce bureaucratic procedures and establish minimal requirements for productive collaboration.
The authors, Eugene Pribytkov and Vladimir Salnikov, with the support of Russian National Committee of the WPC, established the “Generation” platform during the 2019 WPC Future Leaders Forum in Saint Petersburg with the following aims:
- Enhance international collaboration between startups and industry players by establishing a platform to efficiently implement digital solutions;
- Attract talent and help them to be valuable for the oil and gas industry; and,
- Accelerate and scale startups within the industry.
The first phase of the “Generation” project is an international online pitch-sessions for IT solutions within the Energy sector, starting in February 2021. For more information, please contact: