It’s becoming increasingly evident that digital technology is transforming the oil and gas sector. The industry is being driven by real-time data, cloud computing and the Internet of Things, blending the physical and digital worlds. As a result, the concept of the ‘digital oilfield’ has come into focus. A digital oilfield is an environment where an oil and gas business’ data is automated to increase the speed of workflows and boost performance.
Combining process management with digital technologies, digital oilfields have been designed to overhaul oil and gas systems, and enable full optimisation throughout the supply chain. Research by Global News Wire has shown that the digital oilfield market could grow to $28.61 billion by 2027. There’s no doubt a digital revolution is occurring and it’s set to challenge the conventional model of operations in the oil and gas sector.
The role of digital oilfields
The adoption of digital oilfields in the oil and gas sector has been growing due to automation, data analytics and increased connectivity. It’s widely understood that the oil and gas sector has been slow to adapt to new technologies compared to other sectors, but over the past decade, oilfield technology has progressed rapidly, paving the way for a new era for the industry. Oil company Shell was an early adopter of digital oilfields technologies. Digital oilfields have a range of benefits for the oil and gas sector, including using data to track the efficiency of equipment and mapping out the future of production.
Having a digital oilfield could also help oil and gas businesses transition into greener practices. For example, artificial intelligence and predictive analytics can help identify oil spills after or even before they occur, which should help companies minimise damage. By investing in digital oilfield technologies, oil and gas operators can automate maintenance and manage equipment more efficiently while continuing to drive innovation. Digital oilfields have the potential to redefine oil and gas through the creation of a secure, interconnected network. This could pave the way for higher fuel performance and deliver increased value for oil and gas providers.
Creating a digital-first oil and gas sector
If oil and gas companies want to remain relevant and competitive in the future, they need to embrace digitalisation. Research by Energy Voice has found that the industry is still grappling with the challenges of COVID-19, low oil prices and the energy transition. Technology and digital oilfields are among the key tools that can help the industry and make sure it’s still profitable in the future. So, how can companies create a sustainable digital environment for their oilfields? Firstly, companies need to take advantage of the range of the IoT management platforms that are available to them. Using such specialised platforms, that connect different disciplines across a business, for example production and asset management, is an excellent way for oil and gas companies to automate the flow of data. .
Creating a truly digital oilfield will drive better insights for oil and gas, and improve the overall quality of the supply chain. Above all, cloud technology and data will provide oil and gas companies an alternative solution to traditional processes and infrastructure. Digital oilfields serve as a remote link across an entire company, making information and data immediately available. The role of technology in oil and gas has become all the more essential and digital oilfields are likely to continue to have a great impact on the sector.
How can Petroplan assist your recruitment?
Petroplan is a leading global talent solutions and acquisition partner with a breadth of experience in the oil and gas industry. We have a highly motivated team of consultants who care deeply about building and growing connections with clients and candidates. We recruit on both a permanent and contract basis, matching businesses with the best talent across the globe. We understand the future of the oil and gas industry, so if you would like to find out more about how Petroplan can help with your talent search, contact us today. Also, keep reading our blog for the latest news and articles.