LATEST INTELLIGENCE
OVERCOMING OIL AND GAS INDUSTRY CHALLENGES WITH HARDENED IIOT TECHNOLOGIES
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cChallenges facing the oil and gas industry
No matter if you are a stakeholder of upstream , midstream , or downstream resources , companies involved with petroleum system assets and the management of these assets are feeling the pressure to implement new technologies to improve safety and increase operational efficiency in order to stay competitive in the ever-changing business environment of today .
Innovations in the Industrial Internet of Things ( IIoT ) have unlocked the ability to meet these business needs ; however , simply having the technology available does not necessarily mean the solution is easy .
The IIoT concept of connecting system assets to enable the value streams big data offers presents a host of new challenges to companies deploying these technologies . For example , it can be a struggle to navigate the technology stack and choose the correct components . Companies must also consider future development and where the technology may take them , all while also considering workplace culture . It ’ s important to have a workforce that will embrace and support these new technologies .
So how do companies and organisations jump these hurdles that come with implementing new IIoT solutions ? Successful organisations know the answer is all about procurement and partnerships . Instead of simply managing the supply-chain in the traditional vendor / procurement means , companies of today understand the vital benefit of developing partnerships with the firms that make up their technology solution stack .
The promise of the IIoT for the Oil and Gas Industry ( O & G ) isn ’ t solely on managing and monitoring existing assets , but more on enabling a new asset : system information and operation for all elements of business processes . •
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