Are you eager to start your career in the field of oil and gas as an engineer?
This area has been facing some tough challenges in recent years but thanks to updates and changes in the technology that is used, these changes are aiming to increase productivity, safety, and cost efficiency, making this an even more exciting area to work in.
In this article, you will be introduced to five of the latest innovations in the gas and oil sectors and how these are currently, or are predicted, to change these areas.
The Tech- Digital Twins
What It Is – This is a piece of technology that replicates physical assets that exist in oil and gas businesses, such as equipment and oilfields. This allows for better operational management, as well as helping with maintenance.
How It Will Impact – The Digital Twins are estimated to save oil and gas operators around 15% on decommissioning project costs, thereby making projects more affordable. As well as this, it is predicted to lower the time between predicting where oil is located and accessing it, due to optimising efficiency and reducing the risks in complex environments, and helping to create more engineering jobs in the oil and gas industry.
The Tech- Robotic Process Automation (RPA)
What It Is- RPA is not a new thing, but in engineering, it has been paired with AI to speed up the processes behind tasks like data entry, as well as reporting, monitoring and even enhancing operational efficiency. It can also be integrated with many of the systems used in oil and gas to minimise errors, as well as automate workflows.
How It Will Impact – The impact of this will be to get humans out of these roles and help them to engage in the strategic roles that come with working in oil and gas. There are also plans to use both drones and submersibles to assist in setting up offshore installations, which will increase the safety and accuracy of the installations. This is also predicted to minimise the maintenance needed.
The Tech- Artificial Intelligence (AI) and Machine Learning (ML)
What It Is- Both AI and ML are being used by oil and gas drilling to assess the seismic data, as well as accurately assess risk and optimise the production by exploring operational conditions.
How It Will Impact – It is predicted that both will help to speed up safety protocols around drilling, help with worker safety and to create more accurate predictions for drilling companies.
The Tech- Internet of Things (IoT)
What It Is – The gas and oil industry uses IoT devices to accurately monitor equipment that is used, such as pumps and pipelines. This helps them to assess how each piece of equipment is working in real-time, as well as to assess if a piece of tech needs fixing or replacing.
How It Will Impact – These IoT devices improve the safety of equipment, minimise costs linked to repairs and provide continual performance data without requiring human or manual intervention. This reduces costs to oil and gas companies and ensures that they have more workers engaged in strategy rather than manual tasks.