Bringing digitization to oil and gas – Reduce cost by up to 20 percent

Oil exploration and oil and gas production require analysis of enormous amounts of seismic and geological data. Therethrough the need for advanced and reliable analysis tools is growing – both in terms of sustainable and value-creating decisions.

To maintain a high oil and share price, one is dependent on investments from the financial markets. Therefore, the oil companies must be able to prove that they do things in the best possible way. And that the oil droplets from the wells go to the least possible polluting purpose. To succeed, the industry must dare to use the latest tools that new technologies bring to the table. And therethrough bringing digitization to oil and gas.

Create “data lakes”
New Technologies, is used to collect and analyze data for future innovation and supports the digital transformation. In the past, there were applications for everything, but now we see increasingly more people choosing to utilize the cloud. By doing this they create “data lakes”, which you can connect to with analysis tools. In this way, the customer can get the most possible business value from the enormous amount of data that exists.

International Data Corporation (IDC) made a prediction in 2014. They suggested that ten times the amount of data already created would be created in the next seven years.. At the same time, technology is constantly developing. And the development makes it possible to process and apply data through even faster processing, artificial intelligence and machine learning. Enormous increases in the amount of data has also made cyber security climbed higher on the oil companies’ priority list.

Cyber security in embedded systems
There will be an increased focus on predictive maintenance and cyber security, for sure. New standards for implementing cyber security in embedded systems are evolving, and soon to be ratified. We will see that more and more people move home services to have better control of their data. As well as that the insurance industry launches new products that insure companies against computer crime.

In order to collect all this data, modern embedded systems and Industrial IoT are required. The industry must dare to use the latest tools that new technologies bring to the table – bringing digitization to oil and gas.

The main application areas for embedded systems in the offshore industry
The nature of all offshore operations lends itself well to the potential benefits of embedded computing and digitization. Interestingly, one of the areas where we at Recab have seen a lot of projects recently is in offshore wind generation. Wind farms are high-tech and are an ideal Internet of Things (IoT) use case.

Only last year, a report commissioned by the UK’s Offshore Renewable Energy (ORE) Catapult highlighted the offshore wind sector as lagging behind in adoption and understanding of digital technologies. We are certainly seeing evidence that operators are now addressing that and investing in edge servers for remote monitoring and predictive maintenance.

Involving unmanned aerial vehicles (UAVs)
We also see projects for mapping the seabed using lidar scanners and/or cameras, often involving unmanned aerial vehicles (UAVs). When using UAVs, the ability to process the data ................

FULL STORY AT: https://www.recab.com/recab-bringing-digitization-to-oil-and-gas/