We have seen the integration of IoT in sectors like commerce, retail, food, and more. How is it being used in the Oil and Gas Industry?
FREMONT, CA: According to several studies, Oil and Gas (O&G) Industry claims that they might not see $100-per barrel oil for years. By combining this uncertainty in cost with downstream O&G enterprises, which no longer benefit from the competitive process alone and have to compete for clients who are increasingly looking for an improved digital experience, it is obvious why the O&G industry wants to adopt IoT.
For the O&G industry, the benefit of oil and gas IoT applications exists in creating value via an integrated development technique. IoT will empower the industry to digitize, optimize, and automate processes that were earlier disconnected for saving time and money and enhancing security. Here's how IoT can add value to the O&D domain.
Predictive and Preventive Maintenance
The machines that are required to monitor tank levels’ pressure and flow rates daily with multiple other controls need regular service.
Predictive maintenance is done according to the present condition of the equipment. It also allows O&G enterprises to leverage remote supervising of equipment via sensors to make crucial decisions about whether or not something requires to be shut down, replaced or fixed, etc. An alert is sent to the companies when machines need maintenance, thus avoiding costly equipment failure, manpower, and wasted money.
Using IoT and creating a maintenance strategy, O&G operators can track the deterioration of parts and equipment with the increased probability of resolving an issue remotely through preventive maintenance. The data collected is fed to the cloud, providing management and access to the most present data from the field. This data can help in preventing a complete operation from failing or shutting down.
Asset Tracking and Monitoring
Asset management is one of the key areas in the industry that can have a massive impact on operational performance. Operation productivity can be enhanced by optimizing production and making production more foreseeable via enterprise asset management (EAM).
With asset tracking, assets are incorporated into one unit to empower enterprises to digitally transform their operations and supervise various wells or sites at the same time.
IoT sensors can supervise key pipeline equipment more precisely and cheaply. It can allow enterprises to survey potential drilling sites and find out the exact location for a pump and filter replacement refining the process and offering greater insight. Besides, the utilization of sensors permits oil companies to monitor a considerable number of processes with inventory and oil and gas shipments.
These tracking sensors offer helpful information so that companies can detect the number of supplies in inventories. An IoT system can detect if an item is missing and can further track the shipments with the exact location of every oil and gas asset.
The most crucial benefit of employing an IoT system is near-real-time updates with the aid of GPS, cellular, and other connectivity solutions. With sites across the world, O&G enterprises can connect all their field equipment with on-shore equipment for tracking all high-quality assets via IoT.
Health and Safety
Most of the O&G sites are found in dangerous and remote locations that are not appropriate for the health and safety of the workers. However, IoT enables remote monitoring of operation, which will no longer require any individual to visit the sites before knowing the origin of the problem.
This also empowers the companies to estimate when equipment requires maintenance, to track spare parts of rigs, and to find out if the contract workers at the refinery are certified to be present in specific areas.
Remote sensors and drones minimize the requirement for O&G workers to monitor equipment physically. Autonomous robotic drilling allows for the complete removal of humans from the drill floor. Besides, robotic moving platforms are in the process of being developed for shale wells.
It is no wonder that IoT has hit O&G Industry like a storm and has completely transformed it.
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