The digitization of the oil field is at the heart of information technology (IT) in improving the company’s operating programs, including improving hydrocarbon production, improving safety, environmental protection, research and the full exploitation of reserves. On a commercial level, allocating resources (human and machinery) to obtain profitable and effective results can be considered.
The objective of the digital oil field is to maximize the recovery of hydrocarbons, eliminate downtime and increase profitability by designing and implementing integrated commercial routes. Currently, there are many companies (domestic and foreign) devoted to various activities related to the oil sector, which have incorporated advanced technologies for software and data analysis into their operations to provide better results and improve the profitability of the production process.
Digital transformation of the oil field
Thanks to remote sensing, machine learning and artificial intelligence (AI) sensors, oil and gas companies can now ensure greater safety for their employees, the extraction fields will become more productive and their capital resources will operate with maximum efficiency. But how can oil and gas and energy companies realize they are heading in the right direction?
In the case of Mexico, where 89% of energy is derived from fossil fuels and gas production has decreased since 2014, it is imperative that the Mexican energy industry accelerate its digital transformation and development in the field of digital oil, including artificial intelligence and machine learning technologies. Read on to get the information and data validated by analysts about the direction of the energy sector and how to make sure your company is on the right track.5 essential elements of the digital oil field:
- Data-driven decision making with data integrity,
- automated processes to reduce costs and increase efficiency,
- efficient production using advanced dual simulation digital,
- Run machine learning and artificial intelligence to create real business value,
- Collection and context of various data sources.
The main advantages that a commercial company can enjoy having CPD are:
- Improved decision making.
- Increase return on investment.
- data integrity
- Increases oil field recovery and eliminates non-productive time.
- Optimal use of time (time cycle improvement).
- Operational efficiency through real-time monitoring.
- An improvement in the net present value.
- Automated workflow.
Workflows in the digital oil field combine business process management, advanced information technology and engineering expertise to improve the performance of tasks performed by multifunction teams, and in many cases.
Another important aspect of digital oilfield technologies is wireless capabilities. Through the application of a wireless network, many automated platforms can be controlled from a central location, which leads to a decrease in the number of employees required to monitor individual platforms.
Big data usage
It’s data that has a greater variety and is presented in increasing sizes and at a faster speed, and this is known as the “three elements” (size, speed, and diversity). Many fields of petroleum engineering use this technology in conjunction with programs, engineering works, etc., allowing them to face the challenges and problems that arise day after day.
Exploration and development
By combining big data and advanced analysis in exploration and development activities, managers and experts can make strategic and operational decisions.
Drilling and completion
Make drilling rigs and pipeline infrastructure smart to anticipate problems and procedures to avoid failure and increase productivity. In this case, big data is used to identify situations or anomalies that may affect drilling operations that could save human lives and equipment.
Big data is of great importance to produce and operate a business. To be able to predict future performance based on historical results, or to determine a decline in production, it can be used to transfer assets to more productive regions. Real-time information that is returned by SCADA systems at the wellhead can be used to take advantage of opportunities that increase asset performance and maximize production.
Oil companies are working to improve understanding of the available hydrocarbon-based future strategy in order to better define deposits and reserves by integrating real-time data into the land model in the platform and in the office. In addition, they anticipate the chances of a successful conversion of the tank to a production well by utilizing the benefits.
All these technologies have become a necessity to increase and maximize all activities related to the oil sector. Software-based Dynamic Controls E&P offers multiple services that improve your extraction activities and we manufacture solutions for the digital oil field.
Khalil ur Rehman is a proud born and raised in Abbottabad. Khalil has worked as a journalist for nearly a decade having contributed to several large publications including the Yahoo News and The Verge. As a journalist for The Hear Up, Khalil covers climate and science news. [email protected]
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Umar Nisar was born and raised in the busy city of Abbottabad. As a journalist, Umar Nisar has contributed to many online publications including PAK Today and the Huffing Post. In regards to academics, Umar Nisar earned a degree in business from the Abbottabad UST, Havelian. Umar Nisar follows the money and covers all aspects of emerging tech here at The Hear Up.