Thomas M. Siebel Presents at Baker Hughes Distinguished Lecture Series
C3 Energy Chairman and CEO Outlines Benefits of the Internet of Energy for Oil and Gas Companies
Redwood City‚ Calif. – October 14‚ 2015 – C3 Energy Chairman and CEO Thomas M. Siebel was the featured speaker at the Baker Hughes Distinguished Lecture Series last week in Houston. Speaking to Baker Hughes employees‚ Siebel shared his vision of the technological revolution now taking place across the energy industry and how oil and gas companies can benefit from the “Internet of Energy.”
“The oil and gas industry is expected to invest more than $230 billion in Internet of Things (IoT) technologies in the next five years‚ resulting in fully sensored networks that produce an unprecedented amount of data‚” said Siebel. “With machine learning and big data analytics‚ the Internet of Energy will enable companies to harness this data to improve all aspects of their operations – from exploration and production to refining and retail.”
During his presentation‚ Siebel explained how deploying industrial-scale cyber physical applications in the oil and gas markets will optimize the value chain of energy exploration‚ production‚ delivery‚ and consumption‚ enabling increased efficiency‚ reduced operating expenses‚ increased revenue‚ and lower environmental impact. He also outlined how C3 Energy is providing solutions that enable predictive maintenance for oil production assets‚ assess drilling risk‚ optimize well placement‚ and improve capital investment planning‚ production optimization‚ and demand forecasting.
“We attempt to create value for our employees by bringing in new perspectives on disruptive innovations and cutting-edge research through the Distinguished Lecture Series‚” said Sammy Haroon‚ Director‚ Palo Alto Innovation Center at Baker Hughes. “Thomas Siebel was the ideal candidate for our discussion because of his unique technology background and proven market successes. He applies advanced Information Technology of big data‚ analytics and machine learning in the oil and gas sector and connects them to all the phases of the industry‚ creating a value chain that will provide significant productivity improvements and impact the top line.”
The Baker Hughes Distinguished Lecture Series is an event held multiple times a year to help the company’s employees gain practical knowledge and learn about breakthrough innovations with crossover applications in the energy sector.