Professional services firm EY has launched two digital solutions built on the Microsoft Azure cloud platform–EY Digital Energy Enablement Platform (DEEP) and EY UtilityWave – designed to help energy companies improve performance, gain efficiencies and support better decision making.

EY DEEP provides tools that help define the future of oil and gas exploration. By digitally integrating key processes across the value chain – including complex well engineering, production and maintenance optimization, supply chain management and financial modelling –  and using a common data model, the platform can be fully extended across the oil and gas organization, breaking down silos and reducing cycle time and overall costs.

EY UtilityWave is a leading platform for utilities that connects multiple legacy systems, new IoT devices and diverse sources of data. This helps enable the utility to gain greater visibility and control over their network, provide actionable insights and numerous opportunities to unlock real value from its network and data.

Benoit Laclau, EY Global Energy Leader, said: “The energy system of the future will be vastly different from that of today, meaning the energy industry needs to develop different capabilities, embrace innovation and explore new technologies.

“The extensive industry insights of EY, combined with Microsoft’s powerful cloud technologies, have led to the development of two innovative digital energy solutions. EY DEEP and EY UtilityWave will help energy companies by enabling data-driven decisions that allow them to thrive in this new energy world.”

Çaglayan Arkan, Global Lead Manufacturing & Resources Industry, Microsoft, said: “EY DEEP and EY UtilityWave are a testament to the EY digital transformation journey to address major industry challenges in the energy industry.

“The strength of our cloud technologies is in the capability and scale that allows industries to easily integrate across the value chain and become digitally enabled. Our technology provides an open, scalable platform that supports ongoing innovation, extensions and third-party application integration, giving a customizable solution that removes the constraints of other platforms and associated tools.”

EY Digital Energy Enablement Platform (DEEP)

Changing market dynamics and advances in oil and gas extraction technology, means oil and gas operators must find innovative ways to optimize their operational processes to improve efficiency and reduce costs. However, the current legacy practices and limited maturity of technology platforms have stunted the oil and gas industry’s ability to fully realize the value of the latest digital technology.

EY DEEP digitally integrates key processes across the oil and gas value chain – including complex well engineering, production and maintenance optimization, supply chain management and financial modelling – with a common data model to allow full extension of the platform across the organization. Powered by Microsoft Azure and Microsoft Dynamics 365, EY DEEP helps to break down silos, improve process flows, support more informed decision making, improve efficiency and reduce cycle time and overall costs.

EY UtilityWave

Leading a decarbonized, decentralized and digitized energy system will represent a significant organizational shift for many utilities. New tools and a new mindset will be required to master the changes driven by a rapid energy transition.

EY UtilityWave is an IOT and data platform that delivers the capabilities needed to address the biggest challenges of a digitized, dynamic energy system, in one business-focused platform. Powered by Microsoft Azure, it combines a suite of device management and data ingestion, manipulation and visualization services. This business-focused platform connects multiple legacy systems, the new digital and IOT estate, as well as new sources of data, to enable greater visibility and control, deliver actionable insights and drive business performance.

EY and Microsoft will be holding demonstrations of EY DEEP and EY UtilityWave at the 24th World Energy Congress in Abu Dhabi, running from September 9 to 12. – TradeArabia News Service