Automation in Oil & Gas Sector – A key Towards the Future of Oil & Gas Industry

Created On: Jun-2018
Report ID: IR117
Format: PDF

By the year 2050, the global population is anticipated to reach approximately 10 billion people, demonstrating the need for reliable, safe, and affordable energy solutions. In a progressively multifaceted energy market, the industry is fronting new challenges transitioning to newer renewable sources. This every so often requires pioneering technologies for generating, regulating, and storing energy. In order to reach demand, oil & gas companies need to lay emphasis on areas inside their own business models where they can clinch innovation to increase efficiencies. Concurrently, the energy industry alongside with many others is suffering from shortage of skilled labor. This depreciation of skilled labors has made it challenging for oil & gas companies to hire new talent pool members with the technical skills required to work on new energy sources. With the absence of skilled labor in these loci, it has now become vital for energy companies to reconsider their processes and take help of predictive, automated and self-learning systems, and digitally connected infrastructure. These technologies can dramatically increase productivity and efficiency, while also helping the industry maintain a high production output during this shortage.

Finally, the market leaders of oil & gas industry are appreciating that the future of the oil & gas industry lies in automation. Revolutionizing in-house processes with automation, alongside with improved access to data about maintenance and operations, will benefit the industry rationalizing distribution and production to allow for a greater yield.

Automation in this industry is extremely versatile thus allowing it to be ideal for day to day operations. There are various areas in the industry that can benefit from automation for an immediate and long lasting effect. Some of the areas that can benefit from automation are mentioned below: -

  • Inspection and Diagnostics: Unmanned submersibles and drones can help in maintenance and inspection functions and detect when equipment needs repairs by broadcasting live video to the main office
  • Drilling Operations: Automating manual portion of drilling such as pressure drilling and pipe handling can significantly reduce the chance of risk related with these functions as well as speed up the overall drilling process
  • Pressure and Flow: through automation the measurement of flow and pressure can be easily carried out with the installation of smart sensors alongside the pipes and containers among others
  • Weather Monitoring System: Some of the large oil & gas companies have started utilizing sensors to predict weather and detect changes in seismic activities as well as atmospheric and ocean level changes

The oil & gas industry is underway toward digitization with added sensors gathering data from rigs around the world, but there still exists some areas for oil & gas companies to improve within a progressively diverse energy market. In the oil & gas industry, new technologies and processes now require improved cooperation between departments in order to achieve success. Transforming digitally can augment internal communication and streamline projects by allowing engineering teams to work more proficiently with the energy companies to better manage data and project requirements. Oil & gas service companies seem to already be touching to capitalize on future demand for automation in the industry. At this point the use of AUVs and UAVs are restricted by both limitations of technology and regulations, but over the forecast period the endurance and range of the vehicles will improve, thus, allowing pipeline monitoring to be exclusively used by autonomous vehicles.

Our Research Approach Includes
  •  Market Outlining
  •  Framing discussion guide
  •  Data Validation
  • Data Analysis
  •  Re-Validation and Finalization of Data
  •  Report Insights and Publishing
Our Research Approach Includes
  •  Market Outlining
  •  Framing discussion guide
  •  Data Validation
  • Data Analysis
  •  Re-Validation and Finalization of Data
  •  Report Insights and Publishing
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