twitter linkedinfacebookacp contact us

Industrial Internet to revolutionise upstream oil and gas sector

Technology

The upstream sector is witnessing considerably more Industrial Internet implementation compared to other oil and gas sectors, according to GlobalData, a data and analytics company

This is driven by the need to reduce operational risks and maximise returns from their assets through digitalisation, according to the company’s thematic report: ‘Industrial Internet in Oil & Gas’.

The report reveals that the adoption of the Industrial Internet would allow companies to reduce risks and optimise performance by digitising oilfield operations and creating digital twins.

The data company noted that Industrial Internet has the potential to transform traditional processes and workflows and boost the technological capabilities of oil and gas firms.

This could help the organisation achieve two primary objectives: firstly, companies would be able to overcome operational challenges while venturing into new frontiers in search of hydrocarbon resources. Secondly, Industrial Internet adoption will improve productivity and efficiency, thereby strengthening market competitiveness in a challenging environment.

Ravindra Puranik, oil and gas analyst at GlobalData, said, “In general, adoption of the Industrial Internet would make organisations more dynamic and adaptable to external factors. This concept is expected to play a central role in simulation and modelling of projects against different market scenarios, optimising inventory levels, demand forecasting, decision support, and logistics optimisation, and setting up long-term objectives for an organisation.”

Adoption of digital technologies has surged of late, largely as a reaction to the crash in crude oil prices. However, companies have been quite methodical in their approach to enable this transformation and ensuring maximum possible value can be derived through Industrial Internet implementations.

PR6382“This is particularly evident in the case of digital twins, wherein companies have chosen fields that have recently entered into production or are on the verge, to allow for the integration of advanced sensors and connectivity with oilfield infrastructure for remote monitoring and analysis. To highlight one such instance, BP created a digital twin at the Claire Ridge project in the North Sea, which started producing oil in 2018. WorleyParsons assisted the company in the creation of a digital replica of the field,” he added.

GlobalData’s thematic research identifies oil and gas companies, such as BP, Shell, Chevron, ExxonMobil, ConocoPhillips, Gazprom, Repsol, Equinor, Saudi Aramco, Sinopec, and ADNOC as the major players in the adoption of the Industrial Internet theme in the oil and gas industry.

These companies are adeptly assisted by technology providers, such as Microsoft, IBM, Amazon, PTC, Cisco and Intel, which are gradually assuming leadership in delivering Industrial Internet solutions to the oil and gas industry.

The oil and gas industry has been increasingly adopting AI technology in recent years, and this trend is expected to continue in the coming years. (Image source: Adobe Stock)

SmartMaster can be used with a range of ABB and third-party instruments. (Image source: ABB)

Comparison of conventional workflow with DUG MP-FWI imaging. (Image source: DUG)

The expansion is expected to increase the plant’s processing capacity from 2.5 to up to 4 billion standard cubic feet per day (bscfd). (Image source: Aramco)

ARO Drilling and IMI announce first Kingdom jack up rig (Image source: ARO)

Oman LNG signed various agreements with Shell Gas to secure its gas supply until 2034. (Image source: Adobe Stock)

GAC Saudi Arabia has extensive operations at major ports in Saudi Arabia. (Image source: GAC Saudi Arabia)

Michael Monica, director sales, marketing and customer care at GPT Industries signs the agreement with Mohamed Altaf, sale manager, Abdulla Fouad Energy Services. (Image source: Alain Charles Publishing)

Amin H. Nasser, CEO of Aramco. (Image source: Aramco)

The system can activate notification and hazard mitigation equipment to notify workers and safeguard facilities. (Image source: MSA Safety)

The use of blockchain in the oil and gas sector is set to increase substantially. (Image source: Adobe Stock)

The new discoveries will bolster Aramco’s strategy to increase gas production by more than half over 2021 levels, through 2030. (Image source: Adobe Stock)

Tethys Oil is currently conducting final preparations ahead of the rig mobilisation for the drilling of the first exploration well on Block 58, Kunooz-1 in Fahd.

Source: SafeStart

The new technology is designed to address the challenging conditions in unconventional wells. (Image source: Adobe Stock)

The Ampelmann A-type enabling safe offshore access in the Middle East. (Image source: Ampelmann)

Aramco has produced the first unconventional tight gas from its South Ghawar operational area ahead of schedule. (Image source: Adobe Stock)

Tethys Oil is currently conducting final preparations ahead of the rig mobilisation for the drilling of the first exploration well on Block 58, Kunooz-1 in Fahd.

TotalEnergies and SONATRACH will develop gas resources in Algeria's north-east Timimoun region, (Image source: Adobe Stock).

By using analytics to augment and empower the workforce, pipeline operators can optimise operations and improve asset availability. (Image source: Adobe Stock)

The oil price is hovering around the US$90/bbl mark. (Image source: Adobe Stock)

The Craig International Qatar team. (Image source: Craig International)

The SuperFill II diverter reduces induced surge pressure. (Image source: Halliburton)

Among other services, KBR will offer proprietary equipment for NCIC's 1,200 metric tonnes per day ammonia plant. (Image source: Adobe Stock)

The expansion is expected to increase the plant’s processing capacity from 2.5 to up to 4 billion standard cubic feet per day (bscfd). (Image source: Aramco)

Comparison of conventional workflow with DUG MP-FWI imaging. (Image source: DUG)

ADNOC Gas recorded robust financial and operational results in 2023. (Image source: Adobe Stock)

Over 4,000 km of SoluForce pipe has been installed around the world. (Image source: SoluForce)

Block 56 is targeted for commercialisation in 2024. (Image source: Canva)

The programme will optimise asset lifecycle, enhance machinery performance and improve overall reliability. (Image source: Adobe Stock)

The use of blockchain in the oil and gas sector is set to increase substantially. (Image source: Adobe Stock)

Source: SafeStart

GAC Saudi Arabia has extensive operations at major ports in Saudi Arabia. (Image source: GAC Saudi Arabia)

The company is well positioned in 2024, with a reshaped and resilient business and a strong balance sheet. (Image source: Adobe Stock)

The vessel addresses the growing demand for accurate hydrographic data. (Image source: Fugro)

The virtual inhouse seismic processing centre will allow each of the decentralised business units of Wintershall Dea globally to collaborate efficiently and directly with DUG. (Image source: Adobe Stock)