The Implementation of IoT in Oil and Gas Industry

By CIOReview | Thursday, May 16, 2019

FREMONT, CA: The implementation of IoT is transforming the oil and gas industry. Even now, the industry is held back by archaic and inefficient practices of collecting data and managing operations. However, the introduction of the internet of things (IoT), artificial intelligence (AI), machine learning (ML), and automation is pushing the industry toward enhanced efficiency and productivity.

The recent oil tragedies have necessitated many industries to undertake operational and maintenance measures to ensure safety. It includes tracking the work history, repair, and replacement, monitoring asset functionality, etc. Hence, the industries need to conduct training drives to familiarize the crew members with new technologies. Blueprint creation will allow the users to utilize the existing technology to respond to emergencies effectively.

Utilization of IoT and automation can empower the engineers and managers to deploy remote data collections and maintenance. The integration of IoT can enhance the underwater communication system in the oil and gas industries. Deep ML can be used in prediction and forecasting for making investment decisions. AI and automation can also eliminate the risks associated with drilling operations. AI can be used to track factors like thermal gradients, strata permeability, and seismic vibrations to optimize the processes. IoT marine systems utilize sensors and actuators to gather and send information to the surface. It will not only help in tracking the ecology of the surrounding water but also in predicting natural calamities.

Oil and gas industries can leverage IoT for conducting preventive maintenance of equipment remotely. Big data analysis and remote monitoring will assist the industries in effectively managing their assets. It can significantly reduce maintenance time, thus allowing the industries to shift their focus on operation and production.

Implementation of IoT and AI shows promise in the fields of disaster management, environmental monitoring, and underwater exploration. It also enhances the interaction between humans and infrastructure, thus empowering the industries to undertake preventive measures and drive productivity. The IoT driven developments in the oil and gas industry can help in increasing its revenue. The utilization of connected sensors can also aid in the collection of real-time data from the production wells, which can be used by the management to make prudent and informed decisions.