Oil and gas industry is one of the fast-paced industry that has a huge demand throughout the world. Almost at every largescale oil and gas industry, there are a large number of people who are facing issues regarding the different things that need immediate attention and suitable solutions should be undertaken to get the best results.
There are many more challenges faced by Oil and Gas Industry, we have addressed most of these challenges with our relevant IT Technologies such as IOT (Internet of things)/RPA(Robotic Process Automation)/AI (Artificial Intelligence)/ML (Machine Learning) mentioned in below sections.
Adopting the right solution, these can be easily mitigated without any problem. It is time to get started with the curbing process and working on making the oil and gas industry devoid of any issues.
Technologies such as big data analytics, AI/ML, IoT, robotic process automation (RPA), blockchain and AR/VR will transform operations of oil and gas industry.
In the oil and gas business, there are KPIs attached to their operational efficiency which are normally tracked. First is Health, Safety and Environment (HSE), second is operational excellence, and third is volume growth. Internet of things (IoT) is changing the oil and gas industry as far as workers' safety is concerned. Oil and Gas companies face difficult climatic conditions as oil wells are located either offshore (deep sea) or in remote deserts. Considering these aspects, every health parameter will be controlled and monitored through IoT and will be analysed through big data analytics.
RPA will play a big role in oil and gas industry. Typically, Operations in Oil and Gas Industry are very fragmented. RPA technology will drive the fragmented operations to automate and integrate processes to ease the process and improve efficiency.
In Oil and gas Industry, most of the communication channels are in manual methods across different systems. Establishing seamless communications, blockchain will drive to bring visibility and trust among the different systems involved.
Shipping and Documentation takes a lot of time, workflows, approvals at every port is cumbersome. Blockchain can add lot of value to these processes and managing the documentation and providing operational efficiency to improve cost optimization.
Transport through road is major issue. Vehicle tracking systems (VTS) through geo tracking mechanism tracks the vehicles till the vehicles reach the destination safely without any pilferation. Oil level in the tankers can also be tracked through sensors. Quality IoT sensors will be deployed to monitor and to avoid pilferage en route to destination.
Drone technologies are helping to monitor the pipeline. In the future, drones are going to be a game-changer for pipeline management.