Technology development

Some of the new technologies in oil and gas will include:

Big data analytics
provides us with complex and real-time insights. For example, it is used to improve CO₂ sequestration, carry out data modelling for reservoir management and forecast production performance.
Industrial Internet of Things (IIoT)
is a system of interrelated computing devices, machines, and people, where data and equipment are communicating. For example, in oil and gas, IIoT sensors can be used to gather data from an oil well, combine with big data and AI and provide instant insights and solutions
Robotics and drone
technology enables safer and more efficient inspection capabilities, allows for early detection of leaks, supports aerial mapping, underwater welding and environmental monitoring, as well as inspecting assets like offshore rigs and pipelines in difficult to access locations
Artificial Intelligence (AI)
is used in machine learning, gauging potential risks of new projects before they’re implemented or data science, extracting information and linking related data to form comprehensive pictures
Cloud computing
is not only an inexpensive, scalable and agile platform for AI, big data and IIoT technology, it also allows for more insight-driven decision making through analytics
3D Printing
or additive manufacturing simplifies the production of complex components or prototypes, reducing expensive downtime and removing long waits for parts – especially to print replacements at remote locations
Augmented Reality/Virtual Reality (AR/VR)
AR creates real-world settings, while VR immerses the viewer in a virtual setting. Both technologies are used in oil and gas to train technicians to test complex tasks before implementing