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

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.