HOW NEW TECH FUELS THE OIL AND GAS INDUSTRIES

[dropcap]D[/dropcap]ue to the increased demand for oil and gas in the labor market, as a result of rapid population growth worldwide, there is a need for oil and gas industries to come up with solutions in order to satisfy demand. The 21st century is the age of exponential growth, achieved by innovation and modern technology. Digital technology, in particular, will increase production levels in oil and gas (O&G) industries. Technology is readily available, and it has been proven that it reduces the operating costs, increases efficiency and generates revenue. O&G companies should not think twice before embracing advances in digital technology. Some of the ways digital technology can be utilized in O& G industries include:

  1. 4D Seismic Imaging
  2. Use of drones, equipment sensors and terminal automation
  3. Carbon capture and storage (CSS)
  4. Ciris Energy

Each of the technological equipment and innovative ways is discussed in detail below

  1. 4D Seismic imaging
  2. Seismic imaging adds a time-lapse dimension to traditional 3-D imaging, enabling them to measure and predict fluid changes in the reservoirs. This enhanced view of reservoirs typically increases the recovery rate by a higher percentage therefore boosting upstream revenue.

  3. Use of drones, equipment sensors and terminal automation
  4. Technology enables engineers to view a project on the screen from a well drilled more than 10,000 feet underground. Automation makes this possible. Drones and screen sensors monitor the entire pipeline network and remotely detect and repair leakages in places where there is damage.

  5. Carbon capture storage (CCS)
  6. CCS has the potential to aid the Oil and Gas industries to solve the problem of carbon emissions. The CCF compresses carbon dioxide and forces it down into the reservoirs, pushing oil to nearby production wells while sealing the gas underground.

  7. Ciris energy
  8. This converts coal to natural gas, making it more environmentally friendly.

Some of the advantages of embracing technology in oil and gas industries are discussed below:

Automation in the oil and gas field

Technology enables engineers to view a project on the screen, monitoring wells that are miles away and 10,000 feet deep. If the drill wanders away from the targeted spot, an alert is raised and the trajection is corrected before the situation gets worse. Such precision can only be achieved with this technology.

Monitoring abilities

With the help from automation, Oil and Gas exploration industries are able to track the flow of the fuel in pipes. With systems like real time sensors and investment in terminal automation, companies can monitor and detect any possible leakage easily. The use of autonomous underwater vehicles and unmanned aerial vehicles aid in warding off criminal activities, terrorist attacks, and even repair damages. Weather monitoring systems are used to detect changes in ocean and atmosphere levels.

Reduced operating costs

Effective use of digital technology reduces capital expenditure of an industry significantly.

Predictive maintenance

In case of any breakdown, damage to the equipment is able to be detected on time and proactive measures are taken in order to reduce further damage. This significantly reduces the maintenance cost incurred by the industry.

Safety

With automation, the safety of workers is guaranteed. Workers no longer have to make trips to the fields as frequently to make repairs.

Efficiency in marketing and distribution

Advances in technology enables Oil and Gas industries to win customer satisfaction and satisfy demand.

New Technology = New Opportunities

The use of new technology in Oil and Gas industries will enable more workers to perform their duties with increased safety, efficiency, and sophistication. This in turn helps create job opportunities for more workers in these industries.