Overview
Technology is playing an increasingly relevant role in the Oil & Gas Sector, whilst new technologies such as Artificial intelligence (AI), automation, Blockchain, the Internet of Things (IoT), Augmented Reality (AR) and Virtual Reality (VR), as well as digital platforms, are helping market players to ensure better efficiency, safety and sustainability of the sector, from exploration to marketing.
Trends
The Oil & Gas Sector is one of the world’s largest industries. Oil & gas companies have always been persistent adopters of innovative technologies, and understand that the use of new technologies, from AI to blockchain and IoT devices, can transform many parts of their operations.
In addition to oil & gas software, the sector is thus increasingly resorting to artificial intelligence, DLT /Blockchain, IoT, AR and VR, as well as digital platforms, in the exploration, production, storage, transportation, refining and sale of oil and gas, including for monitoring and inspection purposes, efficient use of autonomous machinery and devices, and tracking of assets. Big Data Analytics is also playing a central role in the sector, including for higher efficiency in the decision-making process.
The recognition of the challenges brought by climate change is further leading to growing investment in the development of new technologies aimed at reducing the climate impacts of the sector, such as for instance in the decarbonisation of offshore operations, in the development of carbon capture and storage solutions, and in the deployment of carbon reutilisation technologies and alternative fuels.
Legal Challenges
New legal and regulatory challenges arise from the increasing digitalisation, automation and connectivity in the sector.
New technologies for discovering, exploring and producing oil & gas play an increasingly relevant role in the sector, from the use of satellite data, drones and ROVs, to AI and blockchain, all of which may bring additional risks including related to data protection and ownership or third-party activities and products, such as operational failures and malpractices, as well as cybersecurity risks.
Autonomous operations, inspection and transport methods, monitoring through capabilities such as drones and satellites, and new technologies for safer storage and transport, all bring legal challenges that require attention.
New technologies to improve the efficiency and sustainability of the refinement process, as well as the use of data for the definition of market offers, bring up new challenges including on liability, data protection and sharing.
- Regulatory & Compliance
- Technology development, integration and updates
- Data (personal and non-personal) & Cybersecurity
- IP & Trade Secrets
- Testing of new technologies
Step-by-step
What?
Forces driving the market
Autonomous machinery and devices, coupled with artificial intelligence, as well as DLT/ Blockchain, are increasingly performing tasks in the sector, ensuring greater accuracy and efficiency but also raising cybersecurity concerns. Quantum technology is also set to play a central role in the oil & gas data-intensive processes.
Technology such as IoT, powered by 5G, allow better connectivity and tracking of assets in the sector, whilst enhancing health, safety and environmental performance.
Cloud computing, data mining and analytics are bringing added value to the operations throughout the value chain, improving efficiency and decision making.
Testing and deployment of technologies to offset carbon emissions are increasingly being developed and used in the sector.
How?
Can we help you
VdA has vast experience and detailed expertise in all policy, legal and regulatory matters associated with Tech Oil & Gas. Our unique tech and industry insights allow us to provide 360.º legal services to organisations, governments, and regulators.
- Oil & Gas companies
- Oilfield services companies
- Developers and technology suppliers
- R&D institutions
- Incubators and accelerators
- Investors
- Insurers
- Governments
- Regulators
Our team of experts is delivering strategic and sophisticated legal advice to help our clients on their most challenging and promising projects. With a track-record of advising complex projects for leading companies in the sector as well as for the public sector, VdA services include:
Private sector:
- Advising on regulatory and compliance issues for developing, testing and implementing new technologies in all stages of the value chain, as well as new activities, products and services resorting to new technologies
- Advising on liability & insurance issues, as well as on data (personal and non-personal) and cybersecurity, and on IP protection and technology transfer
- Advising in the implementation of new technological tools, including drafting and negotiating contracts for development, sale and purchase, provision of services, including terms of service and privacy policies
Public sector:
- Drafting policies, strategies and laws for the digitalization of the Oil & Gas sector
- Advising on public contracts: administrative contracts, public tenders, pre-contractual proceedings
- Negotiating partnerships and memoranda of understanding with governments, institutions, agencies and the private sector
Our team of experts
The disruption of the Tech Oil & Gas ecosystem arising from the implementation of technologies raises complex challenges that require a holistic and sophisticated legal analysis.
We help our clients meet their goals through a cross-sector team that brings lawyers from our Oil & Gas, ICT and Data & Cybersecurity Practice Areas. In addition, to deal with the complex challenges brought by resorting to technologies in the sector, our team further works routinely with our colleagues from Projects, Infrastructures & Mobility, Planning & Environment, IP, Banking & Finance, Public Procurement, among others.
Why?
Specialised knowledge is required
The opportunities and challenges of the Oil & Gas Sector, including those arising from the deployment of emerging technologies and the lack of regulatory certainty, are complex. Therefore, specialised knowledge is required in the development and deployment of digitalization strategies. VdA is especially knowledgeable of the opportunities and challenges brought by the use of technology in the Oil & Gas sector in Europe, in Africa and in Southeast Asia (East Timor).
VdA is well aware of the opportunities and challenges of the tech oil & gas sector in Europe, including those deriving directly from the evolving EU legal framework. VdA has been closely accompanying the European oil refining policies, carbon capture and storage plans, clean energy technologies, digitalization strategies, and flexible market strategies.
VdA advises clients in the development, testing and commercialisation of Oil & Gas related technologies and of oil & gas activities and services resorting to new technologies, taking into consideration not only the applicable regulatory framework, but also other relevant legal and regulatory frameworks, including, for instance, on cybersecurity and critical infrastructures / entities, Intellectual Property, tax, environment, among others.
VdA works extensively in the Oil & Gas sector in the Lusophone Africa, Francophone Africa and Southeast Asia (East Timor) and has therefore detailed knowledge and experience of the sector in these markets.
VdA handles the legal, commercial and pragmatic issues involved throughout oil & gas projects and transactions, including upstream and downstream developments, LNG projects, regasification facility projects, storage, gathering and interconnection projects, cross border pipelines and financings. Additionally, our team is frequently called upon to analyse, draft and negotiate the full suite of industry contracts involved in the oil & gas lifecycle, such as PSAs, JOAs, GSPAs, unitisation agreements, EPC agreements or farm-in / farm-out agreements. This knowledge, coupled together with VdA’s extensive know-how and experience on technology issues, allows us to provide state-of-the-art legal assistance in all digital projects for the sector in Lusophone and Francophone Africa and Southeast Asia (East Timor), taking into consideration not only the applicable regulatory framework, but also other relevant legal frameworks, including, for instance, on cybersecurity and critical infrastructures / entities, Intellectual Property, tax, environment, among others.
When?
Can we do it for you
Assisting you in devising the best approach and models for your business, project, product and service, in the light of legal and regulatory opportunities and constraints.
Assisting you in the development and setting-up of your business, project, product and service, drafting all required documentation, assisting in the negotiation of contracts, interacting with competent authorities, and accompanying you every step of the way.
Assisting you in addressing day-to-day business goals and challenges in the light of the applicable laws and regulations. We are here for you.