The Importance of IoT Solution for Oil and Gas Industry

The evolution of Internet of Things (IoT) has revolutionized the world and companies adopting this technology are delivering better performance. ‘Recent to join the bandwagon is the oil and gas companies.

The oil and gas industry initially resistant to adopting new technologies has realized the necessity of applying cutting-edge technology, tools on its’ premises for improving employee performance and assuring safety. Over the past few years the industry is focusing on utilizing advanced technology solutions like robotic process automation, IoT, workflow solutions etc.

With large number of employees leaving the industry and dropping oil prices already impacting the business bottom-line, this industry has been forced to embrace technology innovations for managing the critical processes with limited employees.

How important IoT solutions are for oil and gas industry?

An IoT solution implemented on the industry premises offers multitude of benefits to the employees and management. For instance, detecting gas leakage and oil spills from remote locations can be a huge challenge and involves employee safety risk. Besides, the time consumed for checking the leaks every time can be high.

Undetected gas leaks and oil spills can be hazardous and detrimental. Monitoring the leaks on a constant basis is the best way out to ensure safety.

With IoT solution it is amazingly simple to identify the problem from anywhere and from anyplace without any fuss. Up-to-the-minute data on the gas leaks and oil spills can be identified and fixed without any employee entering the hazardous environment for measuring the rate of leak every time.

Top benefits of having IoT solutions for oil and gas industry are discussed in the below sections.

• Automating remote operations

Manual remote operations performed by employees are often time consuming and retards the process efficiency. Having IoT solution implemented eliminates the manual process as everything is automated for operational efficiency.

• Enabling massive data collection

Instant data update and collections of various events on a regular basis is a huge challenge for most oil and gas companies. Manual data entry can either be missed or wrong during crunch times and this again impacts the process efficiency. IoT solution can enable continuous automated data update instantly for a better accessibility of critical and vital data when needed.

• Integrating analytics

Utilizing technology advancements and devices is a brilliant idea to monitor and control any industry premise, getting the real-time data of their performance can be difficult. Getting the real-time data at the right time is critical for decision makers. Integrating, though considered to be expensive part of the IoT implementations, is a must for having real-time data to improve process performances.

• Securing operations

IoT solutions are powered with secured data flows which enable the users to detect and prevent program defects. By this way, improving the performance and efficiency of a process is seamless.

• Saving time and money

With such an advanced system in place, any industry can reduce the time involved with each process significantly. This accelerates the process and improves the overall efficiency of the program.

We at Eleviant have developed IoT solutions for different industry verticals. Our experts can help your industry with IoT solutions and digital transformation strategies that can simplify the complex process for improved efficiency.