BHGE, TechnipFMC Talk Survival Of The Fittest In Digital Era

At the core of digitization is data along with collecting, storing and analyzing it. Even though the oil and gas sector has managed vast volumes of data over the years, it has yet to put everything in place to extract value from it.

Thierry Pilenko, executive chairman for TechnipFMC (NYSE: FTI), believes data and its challenges are both refreshing and hugely destabilizing. “One of the key elements is the data, and especially who owns and masters the data,” he said. “In our ministry, there is still a big debate about who owns the data, and I think as long as we have this debate it will be difficult, if not impossible, to implement some of the things we want to achieve with it.”