The oil and gas industry has always been seen as conservative and resistant to change but due to the recent drop in the oil prices, both the upstream and downstream companies are looking now at innovative ways to reduce CAPEX and increase production and safety to achieve operational excellence.
The digital technologies and IIoTare seen as the main way to a varied range of key benefits. In a recent survey published by GBC, the keynote speakers of the IIoT and Digital Solutions for oil and gas conference (OMV, Eni, Petronas and Halliburton) have mentioned that the mind-set change in integrating the IT in the overall business strategy and the breakdown of cultural and technical silos will leverage the speed of the opportunities in this sector and will deeply transform the legacy operations. This has a direct impact on the skills required in the future in the oil and gas industry as well.
It is a common agreement in the industry that Real time resource optimization, predictive maintenance, personalised service at the retails points and integration of the supply chain make a difference for both upstream and downstream operations. The best business decisions will be taken on the data generated in real-time from the projects.
Interconnecting things, assets and people can translate in great opportunities for data storage, and cyber security companies. However, the majority of oil and gas companies want to make sure that security is not only physical but also deeply rooted in the overall IT architecture of the business. Among the challenges which come with this are the readiness of the IoT devices, the lack of standardization and the lack of information management inside and the slow adoption of Big Data technologies.
To rapidly progress in the digital journey, the four experts presented the technologies which are on the table of the oil and gas companies, such as: Wireless, fieldbus and open and secured systems, predictive analytics, machine learning, AI, IoT sensors, wearable devices and AR and VR.
Companies interested to hear more about the digitalization roadmpas of the oil and gas companies or would like to see technical demos of the solutions which can enable the companies approach the oil and gas projects in an entire new way, can join the IIoT and Digital Solutions for oil and gas conference, which will take place on 7-8 June in Amsterdam, at Okura Hotel.
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