The oil and gas industry has historically been slower in adopting more advanced technologies into their processes, and they are increasingly competing with the renewable energy sector, which is said to be valued at $1.1 trillion by 2027. To stay competitive, oil and gas enterprises need to improve their existing infrastructure and consider implementing new and evolving technologies into their business systems and processes. Leveraging digital transformation will ensure that oil and gas companies maintain their share of the market. Read on to learn about oil and gas technology trends this year.
Current Trends
Improved technology for the oil and gas sector will help operators and companies address emerging challenges. Recent advancements in robotics, artificial intelligence (AI), big data, and cloud computing are revolutionizing the industry. Robotic Process Automation (RPA) reduces human error and risk, while enhanced cloud computing improves security against increasing cyberattacks. AI technology enhances the visibility of operations, big data analysis, and administrative productivity.
Artificial Intelligence (AI)
Oil and gas companies can benefit from integrating AI into their systems to support decision-making with insights from machine learning, offering predictive, prescriptive, and cognitive analytics. AI-powered software enhances productivity by handling administrative tasks such as emails, invoices, and bill payments. AI also increases end-to-end visibility of operational equipment data, predicting maintenance requirements and minimizing workflow disruptions.
Big Data
Oil and gas operations generate massive amounts of data, from machine functioning to mapping to quality and quantity information. Cloud platforms can analyze production and performance data, reducing operational costs and decreasing carbon emissions. Big data also helps monitor large equipment assets, offering more insight into offshore oil rigs and refineries, reducing failures, and enhancing maintenance.
Robotics
Robotics and automation solutions enhance workplace safety in hazardous conditions. Robots are useful for inspection, surveying, and repairs in risky locations. Submersible bots and drones can operate offshore, conducting repairs and reducing hazards. RPA reduces human error and the need for manual labour, making operations safer and more efficient.
Cloud Computing
Cloud-based technology supports the industry with advanced analytics, remote accessibility, and informative visuals. As-a-service platforms boost efficiency, security, and scalability. Cloud computing facilitates digital transformation, improving adaptability. Ironcloud services enhance digital transformation, using best practices and the latest cloud technology to optimize cloud computing utilities.
Digital Twins
Digital twins are virtual replicas of physical objects or processes, like drilling rigs. Digital Twins are a connection between the physical and digital worlds, allowing engineers to visualize and optimize operations for better efficiency. Real-time monitoring, problem prediction, and maintenance planning improve the handling of oil and gas assets.
Wearable Tech and Robotics
Wearable technology and robotics are becoming commonplace in the industry. Smart helmets, vests, and VR headsets improve task safety and efficiency, while robots handle risky jobs, enabling smooth remote operations. Wearables and robots collect on-the-ground data, providing real-time information for smart decision-making.
Internet of Things (IoT)
IoT technology connects devices to share data, enhancing operational efficiency and cost-effectiveness. Sensors track equipment operations, identify issues before they occur, and facilitate maintenance planning. IoT technology improves process optimization, safety, and oil and gas operations planning.
Cybersecurity
As cyberattacks become more sophisticated, robust cybersecurity measures are essential for protecting sensitive data and critical infrastructure in the oil and gas sector. Implementing advanced cybersecurity solutions, such as intrusion detection systems, firewalls, and multi-factor authentication, can safeguard against breaches. Regular security assessments and employee training programs are also vital for mitigating risks. Enhancing cybersecurity protects valuable data, ensures compliance with industry regulations, and builds trust with stakeholders.
The Role of Technology in the Oil and Gas Sector
Oil and Gas IQ perfectly summarizes the role of tech in oil and gas: “The automation and improvement of processes and workflows help the industry reduce costs and operate more efficiently with fewer people.”
Oil and gas technology addresses long-standing pain points for operational processes and workplace safety. By introducing more use cases for decreased human labour and increased RPA, industry leaders can lower costs and workplace accidents. Robots and drones will be sent to places where humans cannot go. Implementing AI technology and cloud-computing platforms will increase the visibility of large-scale assets and their functionality while also providing more data-enabling, predictive maintenance. Finally, adapting more cloud services will improve production and security and provide increased analytics.
We Can Manage Your IT
At Ironclad Tek, we work with many clients and leaders in the oil and gas industry, providing services like disaster recovery, data backup solutions, and managed server/storage. You can view our client testimonials that support our efforts to stay on top of emerging trends while continuing to implement enterprise-class architecture.
To ensure your oil and gas company stays competitive with other organizations, as well as the renewable energy sector, work with an IT company that can provide you with the exact services you need while thoroughly understanding your industry. Contact us today to get started!
