The oil and gas industry, which once had a monopoly over the energy sector, is facing several challenges today. With more and more people advocating the use of renewable energy and constant market volatility and price downturns, the industry is facing some tough challenges.
These challenges have forced the oil and gas sector to adopt new technologies and embark on a journey to digital transformation. Below are some ways the oil and gas sector is embracing the technology:
Due to depleting fossil fuel resources, the oil and gas industry is using advanced robotics solutions to enhance their safety and productivity. Robotics make boring and dangerous elements of drilling safer. For example, the Iron Roughneck robot automates the process of connecting and disconnecting pipes, which is an extremely risky process. Besides that, there are robotic snake arms that can carry out inspections in confined spaces with great ease.
Most of the robotics technologies currently employed in the oil and gas sector mainly focus on inspection, maintenance, and repair of plant facilities.
AI has mainly two uses in the oil and gas sector:
- Data Science
- Machine Learning
Machine Learning enables systems to learn from past data and refine processes to produce programs tailored to specific purposes. This allows companies to monitor complex operations and respond to emergencies easily. Machine Learning is also used in the oil and gas sector to run simulations and discover patterns using predictive modeling.
AI can also help companies evaluate the environmental risk of a new project before any plans are made.
Besides that, AI is being used to manage stock levels and explore new resources by mapping and identifying petroleum deposits beneath the earth. AI can also help prevent accidents by detecting equipment failure or gas leaks.
Lack of a skilled workforce is a problem the industry constantly battles with. One solution is to automate processes. For example, some aspects of drilling operations, such as pipe handling and pressure drilling, can be automated to reduce the need for human labor. Besides improving the efficiencies of processes, automation reduces injuries among workers and lowers liabilities for companies.
Remotely operated vehicles (ROVs) can be used by oil and gas companies for deep-water inspection and exploration. Some ROVs are even capable of performing small maintenance tasks underwater. The cost of automation is ways cheaper than the damage disasters bring to the business.
Internet Of Things enables better field communication, real-time monitoring, reduced costs of maintenance, digital oil field infrastructure, mine automation, reduced power consumption, greater safety and security of assets in the oil and gas sector, which leads to higher productivity.
GPS devices and RFID are some examples of IoT devices in the oil and gas industry that help the industry optimize supply chain routes and reduce delay times. For example, RFID is used in asset management by tracking the location and movement of products.
IoT sensors are being used in machines and pipelines to detect corrosion, leakages, and other forms of damages that lead to accidents. The IoT sensors can also be used to measure oil composition and pressure to optimize the flow of oil.
Below are some main usages of IoT in the oil and gas industry:
- Pipeline and equipment monitoring
- For predictive maintenance
- Emissions monitoring and control
- For smoother operations
- To get real-time alerts
- To get asset Information
- For fleet operations monitoring
- To analyze trends
The biggest challenge in the way:
The biggest challenge in the way of the oil and gas industry is the thorny issue of pollution. Using AI, IoT, and Data Science, the industry can control emissions to an extent and improve public perception of them.