How Can Technology Strengthen the Offshore Oil Industry?
The oil industry is still recovering from the 2014 crash and is facing increasing challenges from renewable energy sources. In such a climate, the industry must continue to innovate and use the latest technological advancements to help shape its future, which still looks bright, with over 4,000 tonnes of shale oil still estimated to be dwelling off the coast of Australia.
But in such a notoriously ‘old-fashioned’ industry, how can technology be best used to improve not only the bottom line but safety and the environmental impact of drilling too? Here, we’ll under line a few of the top trends that have been making waves over the last few years and look set to become an industry standard in the years ahead.
Smart drilling – It’s not enough anymore to simply get to the oil and gas as fast as possible, it’s more important to develop a plan of action in order to get the most out of each site. Because the reserves will ultimately run out and making them last is more important than getting at them as quickly as possible. Tech such as AI and computer design can be used to ensure the drilling is smarter, utilising best-in-class tech and extensive data. Because smarter drilling not only equals faster and safer drilling, but more efficient drilling too.
Blockchain implementation – Whilst blockchain is a technology used primarily for finance (a decentralised ledger scattered across devices instead of operating from a centralised source), there are signs that the technology could have major benefits in the oil and gas industry too. Because blockchain is more reliable at analysing and accessing data and because it’s that much more secure, a serious reduction in fraud, error and invalid transactions in trading are all possible.
ICO’s – Not only does blockchain unlock the potential for greater security and efficiency, but it also opens up the possibility of fundraising via initial coin offerings (IOC’s). Indeed, over 1500 of them have taken place in the last few years in the energy sector, with the largest ICO (WePower) raising around $40 million last year.
Blurred lines – Despite what the scaremongers might say, it will still be decades before liquid fuel is phased out completely. But even when the supplies to diminish, there is an answer waiting in the wings. Technology can now be utilised to chemically synthesise oil and gas from natural materials and when this comes into effect, the line between fossil fuels and renewables will blur almost completely. Of course for the off-shore industry, this means adaptation is a fundamental necessity, but that much is true during any major technological leap.
Safety first – Tragedies like Deepwater Horizon have underlined the necessity of greate safety precautions on offshore oil rigs. Besides technology being utilised to help the industry survive and flourish, it can also have a significant positive impact on safety in the field of drilling for oiloffshore. Digital pressure controls such as manometers can be used with greater reliability and accuracy than conventional tools to prevent pressure control blow-outs and gas leaks and they can be purchased in bulk from affordable web outlets such as RS Components or even designed in-house.
Smart oilfields – The real benefit that technology brings to any industry is that it essentially does the job that once needed to be done by dozens, hundreds or even thousands of living, breathing people. Connected tech, cloud-based solutions and AI are just a few of the technologies that will allow oilfields to process critical data in real-time and continue to operate 24/7. Wireless technology and the integration of smart sensors and devices will also lead to an industry that’s cleaner and safer.
The digital transformation of the oil and gas industry is still in its fledgeling stages and is being challenged by legacy systems that are simply not compatible with such bold new tech. However, if it’s seen less as a ‘salt the earth’ replacement and more of a subtle means to create improvements in the sector, hopefully, the industry can survive whatever is thrown at it in years to come.
6 Unexpected Security Concerns, and How to Prepare
As powerful as the Internet is right now, it’s impossible to even imagine where it will go over the next years and beyond. But, as fast as security protection continues to improve, hackers seem to improve even more quickly. Everything from new devices to apps…
Your Business Needs These 13 Digital Security Solutions – Here’s How To Get The Most Out Of Each
How would you characterize your organization’s digital security posture? If you’re not sure how to answer this question, or perhaps would prefer not to answer it at all, you’re not alone. Countless decision-makers, from uber-competent CTOs and CISOs to CEOs and COOs who couldn’t code…
Louisiana And Oklahoma Introduce Digital Identification To Prevent Fake ID Use
Digital ID in Louisiana Utilizing digital IDs has been a commonly broached topic for a while now. Although most states are only either deliberating their helpfulness or in the utmost initial stages, Louisiana has moved forward. The primary introduction of this technology was done back…
ScanGuard Review – Here is What You Should Know
Doesn’t it sound good and satisfying to have a goop-performing antivirus that is reliable enough? Yes, it is. For that reason, you need to be extra careful when you are in search of a good antivirus. Put all the necessary factors into consideration so that…
The Emerging Need for Social Media Security
By the time you’ve finished reading this sentence, nearly 700 passwords have been stolen from social media accounts across the world. Social media security breaches have the potential to cause up to $6 trillion in cybercrime damages by 2021, up from $3 billion in costs…
- 3D Printing
- App Dev
- Artificial Intelligence
- Arts and Entertainment
- Big Data
- Blockchain Tech
- Business Technology
- Car Technology
- Cloud Computing
- Cloud Storage
- Computer and Technology
- Conference Calling
- Coupons and Deals
- Cyber Security
- Dark Left 1
- Data Center
- Data Recovery
- Digital Arena
- Digital Marketing
- Edu Tech
- Email Marketing
- Google Glass
- Guides and Tutorials
- Health and Fitness
- Home Improvement
- Home Security
- Internet and Businesses Online
- Internet Marketing
- IT Careers
- Mobile Apps
- Mobile Security
- New Tech
- Online Shopping
- Project Management
- Reference and Education
- Reputation Management
- Sales & Marketing
- Shopping and Product reviews
- Small Business
- Social Media
- Tech Trends
- Technical Support
- Technology in Education
- Tips & Tricks
- Tips And Tricks
- Video Conferencing
- Virtual Reality
- Wearable Technology
- Web Design
- Web Development
- Web Hosting
What Is Salesforce Data Integration?
Salesforce data integration means integrating the data you gather in Salesforce about leads and clients and sharing that with another system. At the same time, the data gathered in the other system is shared with and accessible in Salesforce. Salesforce has some useful built-in integrations….
Why It Pays To Be A “Good Guy” In Commercial Leases
In the world of commercial real estate, good guys don’t finish last. Good guys protect their personal finances and credit. The good guy clause is very popular in areas like New York where the eviction process can be rather lengthy and it can take a…
3 Ways to Prepare For Cyber Security Risks That Employees Must Know
In a world where everything is much easier to do via mobile, app, or device, technology is not going to slow down. We’re all guilty of potentially owning more than one device, whether that is our personal phones, work phones, tablets or fitness trackers. All…
Non-Negotiable Elements For Your Business IT Security Plan
In 2019, having a business IT security plan is more important than ever. An IT security plan is the first line of defense you have for protecting your business – and your clients – against cybercriminals. Cybercriminals include hackers, who frequently obtain personal information with…
Businesses Need To Be Proactive When It Comes To Cyber Security
For business of any size, making sure they are not only compliant with security regulations but continually improving and adjusting the measures they have in place is vital. Quite often the factor which determines how a business approaches cyber security is the mindset of the…
How To Become A Cyber Security Analyst
What is Cyber Security? Cyber security is the practice of protecting a system or network from digital attacks. These attacks are generally aimed to retrieve or destroy sensitive information and it is a serious threat to all the organizations. Who is A Cyber Security Analyst…