The oil and gas industry is still evolving and filled with challenges. To stay competitive, businesses must continually strive to provide products at a lower cost. They are also constantly searching for ways to enhance and extend the value of their existing assets while searching for new oil & gas reserves. IoT (the Internet of Things) helps improve efficiency and reduces downtime through predictive analytics and machine learning.
IOT powers businesses with data sources from various devices and helps gain useful insights to make informed business decisions.
Improved Operational Efficiency
Instilling updated technology to businesses.
According to forecasts from reliable sources, the industry will be facing losses in the next few years as the current workers begin to retire, there are fewer people with industry-expertise to fill the vacant roles. Leveraging the capabilities of IoT can reduce troubleshooting time for days to minutes, which leaves more time to spend on other areas for improvement of the business.
Decreased Safety Risk
Using technology as a step to be better in safety and health.
Safety is the largest concern in the oil & gas industry. IoT can reduce risks by identifying potential problems before they become safety hazards. Remote troubleshooting means a constant and efficient regulation of oil rigs.
Why should you consider using IoT?
IoT impactful to growing businesses.
Improved operation efficiency with accurate real-time data.
Optimizing operational and maintenance cost with predictive analysis.
Helping businesses understand and visualise big data which were really hard to harness before.
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IOT Research and Development FAQ
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What exactly is the Internet of Things?
IoT refers to the network of things (all physical objects) that can be connected to the Internet to collect and share data without human-to-human or human-to-computer interaction.
Why it is called IoT?
The term Internet of Things came about in 1999. It originally described the concept of tagging every object in a person’s life with machine-readable codes, but today it covers a much broader spectrum. It encompasses ubiquitous connectivity, sensors, devices, analytics, machine learning, and many other technologies.
Can you give an example of an IoT solution?
Any combination of devices or other data sources, outfitted with sensors and Internet-connected hardware to securely report information back to a platform is an IoT solution.
What is predictive maintenance?
It refers to a method of maintenance created using IoT that rely on data from a combination of sources including machine components and other indicators which inform an operator of the areas requiring attention before any service interruption occurs.