The gas and oil industry has undergone some serious changes in the past few years, and as there was a lot of stress on the relevant companies the industry is just now starting to recover. For those of you that don’t know, given the global situation oil and gas prices were the lowest in a few decades two years ago, and as the demand was pretty weak as well some of the biggest companies decided to exit this industry. Still, with the oil being the most common source of energy covering at least 35% of needs the corporates can still benefit out of it. One of the most important things to is to catch up and follow the latest technology trends, as the oil and gas industry is one of the least digitalized out there.
The Latin America and China are among the fastest developing economies in the world, and there oil and gas needs are pretty high now. Saying this, the companies should reap the benefits out of the situation and get the most using modern technology. Let’s take a look at some of the biggest trends that are coming for 2019!
The Trends To Follow In 2019
1. First and foremost are robotics. It is pretty simple – robots can do the same tasks as people while being faster and more effective. For example, in this industry the company can have great benefits of robots replacing broken pipes, fixing machinery, and even drilling using big pipes and pumps. With the technology evolving, even more, we are sure to see robots being able to communicate with each other and increase the efficiency in the process. Some of the companies that are already getting used in this technology are ABB, Alstom, etc.
2. With the digitalization of this industry being one of the most important steps to take cloud platforms such as FutureON Field Activity Planner can be of huge benefit. This kind of platform lets the company store assets and data on a cloud visualizing the same in 3D models. This way the communication between the team will be much better, and the company will be able to improve their risk management and increase profitability in the process!
3. One of the most developing technologies is the 4D Seismic Technology Maturity – you will be able to map the reserves and track the reservoir levels. By carefully mapping the area and injection sites you will be able to get the best ROI out there!
4. Last but not least is the wearable trend. This technology will allow your workers to improve their performance while being safe at the same time. As you know the oil and gas industry requires working in a hazardous environment and these devices will keep your workers safe. Chevron and Nippon Oil are already reaping huge benefits out of the wearables trend.
If you are a part of the gas and oil industry be sure that it is still a profitable and lucrative one. Still, in order for your company and team to keep on the good work, you will need to follow the latest technology trends and keep up to date. Believe us, though these investments might be somewhat pricey it will pay off multiple times!