As traditional reserves deplete and oil prices rise, market analysts predict that the global demand for petroleum products will increasingly be met with oil extracted from non-traditional resources in more challenging and harsher environments. Therefore, companies across the oil & gas industry are evaluating technologies and processes that can deliver
Tag: SPE
Why analytics and IIoT are critical for the oilfield of the future
Analytics holds the key to optimizing oilfield assets
In an increasingly complicated operating environment, the global oil and gas industry struggles to optimize their asset portfolio. Producers combat severe challenges inherent to aging facilities in the context of pricing volatility. Change is the new constant, as the cyclical nature of the oil and gas industry means that producers
Reaching target oil production levels with IIoT
The dramatic drop in crude oil prices from the highs above $100USD per barrel down to levels around $50 per barrel is one of the drivers behind the industry’s march towards improved operating efficiency. Along the corridors of Independent Oil Companies (IOCs) and National Oil Companies (NOCs), machine learning and