Data within the oil and gas industry has always been a precious commodity. That’s why, for a long time, oil and gas technology took the form of proprietary systems companies developed in-house. Traditionally, tech in this space hasn’t been designed with information sharing in mind. Over the last decade, however, this reluctance to share data has held back the advancement of oil and gas technology and its ability to disrupt the industry in any significant way.
By contrast, IoT integration, data-sharing capabilities, and remote collaboration tools in other industries have advanced rapidly. Tech has taken over more of the S&P 500 as the energy sector has continued to lose ground. Now, the oil and gas industry is recognizing lagging returns and beginning to transition into more partnerships with the technology sector for collaborative solutions that truly improve operational efficiency.
Operating Through Remote Collaboration Tools
The energy industry is defined by complex procedures, distributed teams, and significant hazards. It can benefit greatly from oil and gas technology that integrates IoT sensors and remote collaboration tools that maximize efficiency and safety. These tools also provide a shared source of truth to operational managers, on-site crews, third-party vendors, and logistics and supply chain partners.
With integrated IoT sensors and field service management software that provides real-time operational data, oil and gas companies can transform the way they manage most operations, including:
1. Predicting problems during drilling
Drilling management is at the core of the oil and gas industry’s efficiency, and IoT integration gives companies remote monitoring capabilities to detect when pressure changes or other signals indicate a potential problem. By integrating real-time IoT sensor data with innovative field service management software, managers and personnel in the field can know instantly when a machine begins to malfunction or drilling hits an unpredicted snag.
2. Real-time pipeline monitoring and maintenance
Problems during drilling can threaten a company’s operational efficiency, but leaks developing along a pipeline can threaten the company’s livelihood, the environment, and the industry’s reputation. Companies can stay ahead of potential pipeline leakage by tying remote collaboration tools, such as geotagging, to IoT sensor data. The moment a problem is detected, the nearest employee can be sent to its exact location to address it.
3. Rapid sharing of cargo shipping data
In the field, oil and gas technology can enhance operational efficiency in every arena. However, fleet managers don’t have the same level of connectivity as field managers, and their IoT integration capabilities are restricted by reliance on satellite links. That reliance is less restrictive when collaborative software aggregates data from different streams and contextualizes it so on-ship personnel know — in real time — the status of their ship and cargo.
The oil and gas industry will continue to benefit as it collaborates more with advanced technology providers. Though it may have been slower to evolve, the state of oil and gas technology today is on a par with tech innovation in most other industries. Collaborative technology solutions, such as Coolfire’s integrated collaboration software, can lead the way in providing a framework for the industry to tie these advancements together.