Why do you think OPEC countries decided to sell oil at such a low price? The obvious truth is there was, is and always will be more gas. The only uncertainty is ‘where’ and ‘when’. New perceptions about the potential supply of conventional and ‘unconventional’ gas (such as shale gas) at relatively low cost are creating the possibility of unexpected expansion of gas markets in most parts of the world. The Internet of Things is changing the face of the industry rapidly.
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Fast changing technology in the Oil and Gas (O&G) industry is making arduous tasks easy. Few ways in which IoT is changing the O&G industry are mentioned below.
1. Automating remote operations
Besides capturing domain knowledge, automation increases safety and decreases personnel time on-site and therefore lowers cost.
2. Enabling massive data collections
A large field of wells can produce massive amounts of valuable information. Industrial Internet technology can tackle the large-scale collection across an entire site. Proven results include better asset utilization, reduced effluents, and accelerated production.
3. Securing operations
Truly robust security consists of detection and protection. There are many companies that offer enterprise IoT security to take care of such threats.
Similar to these facts, innovation and research for O&G in IoT is drawing on a wide range of technologies.
a. Real-time visibility of assets and equipment
Embedded sensors, instrumentation, automation and data communications make it possible to gather and transmit operational data from almost any location worldwide, allowing producers to obtain a more detailed understanding of current operations. These data connections are making it possible to centrally monitor asset performance and health from desktops or mobile devices. For example, a technician might trigger a real-time event to find the current location of asset/asset in question.
b. Robotics, autonomous vehicles and drones
Rapid advances in these three technologies will reduce the need for on-site staff, enable remote real-time monitoring and observations regardless of location. Drones are used for delivery of products, for defence surveillance purposes in target areas, etc.
c. Big data
Royal Dutch Shell is one of the major players in the O&G industry. They currently use big data analytics to probe sites for drilling. In the past, the company took a few thousand readings during a typical survey. Now they can gather more than a million readings.
d. Internet enabled Operational Technology (OT)
IT/OT integration is about to transform the next decade. It will significantly reduce operating expenditures with internet enabled automation devices, sensors and actuators. From automated web-based processes as simple as online form filling to more complicated processes like data transfer without any programming are being carried out today.
Technology is taking leaps and bounds. Setting up O&G pipes below the surface of the earth, on mountains, under the seas; name it and you can see it. Delivery of fuel and gas is happening and it is coming from locations far and out of your country. Is it smooth? Is it easy? Indeed. With game changing technology on your side, nothing is impossible.
If you are in the O&G industry, it’s time to start preparing your IoT vision and strategy, if you haven’t already. Talk to IoT innovators and thought leaders. Choosing the right IoT service provider is crucial to gain any real business value.
We at Allerin offer various digital services to increase your business outcomes. Everything from ‘development and maintenance’ to ‘IoT framework and integration’, you name it we have it.
