Measurement and Testing
Oil in the 2010s: Innovations
Jan 04 2020 Read 717 Times
The past decade has been huge for oil and gas, with new trends and technologies reshaping the face of the industry. From digitalisation and AI to eco-friendly fracking, read on for a glimpse of the biggest innovations of the 2010s.
Over the past decade digitalisation has become a well-established trend within the oil and gas industry. “By adopting artificial intelligence (AI), cloud and the Internet of Things (IoT), some have experienced exceptional performance gains,” says Simon Cushing, a Senior Director Analyst at Gartner.
The advent of AI
The last 10 years have seen oil and gas companies embrace artificial intelligence as a lucrative tool for boosting both operational and business performance. From recognising patterns and analysing images to processing data and augmenting reality, AI solutions are now leveraged by the world's top oil and gas majors. For example, AI is now used to predict equipment outages which can eliminate loss of productivity and boost bottom lines.
Automation to minimise human intervention
Following disasters like Deepwater Horizon, a reenergised focus was placed on the need for automation to minimise human intervention and mitigate some of the risks associated with the oil and gas industry. Unsurprisingly, robots have played a central role in the advent of automation. While automation is helping to mitigate risks, the Global Energy Talent Index (GETI) also warns it could amplify the skills crisis and have a negative impact on jobs.
Disruptive business models
The latest data from Gartner suggests that as many as 30% of oil and gas companies are now using disruptive business models to develop more aggressive goals and augment bottom lines. This trend has seen oil and gas companies shift away from traditional IT services and champion more innovative approaches.
Fracking becomes cheaper and more eco-friendly
In 2019 researchers at the University of Kansas were awarded a multimillion-dollar grant to develop a new technology to reduce the cost and environmental impact of fracking. It sees sand-grain-sized "smart microchip proppants" injected into shale reservoirs to help operators visualise fracture networks and augment precision. "The impact would be transformational," says Masoud Kalantari, a University of Kansas assistant professor who worked on the project.
Designed for fast process control, the rapiDist-4 analyser was one of the most significant technologies developed by German company Bartec Benke in 2019. For a closer look at the cutting edge technology don't miss 'rapiDist-4 – Advanced Distillation Process Analyzer Technology for Industry-leading Performance and Robustness'.
Do you like or dislike what you have read? Why not post a comment to tell others / the manufacturer and our Editor what you think. To leave comments please complete the form below. Providing the content is approved, your comment will be on screen in less than 24 hours. Leaving comments on product information and articles can assist with future editorial and article content. Post questions, thoughts or simply whether you like the content.
In This Edition Fuel For Thought - Krohne appoints new advisory board chairman and new executive board - Dinamica Generale US to acquire Zeltex Inc. - Halma expands gas detection capabiliti...
View all digital editions
Jul 09 2020 Lahore, Pakistan
Jul 27 2020 Virtual event
Jul 27 2020 Kintex, South Korea
Jul 28 2020 Bogota, Colombia - NEW DATES
Aug 03 2020 Lombard, IL, USA