Certain technologies, such as artificial intelligence (AI), blockchain, cloud computing, the Internet of Things (IoT), robotics, and virtual and augmented reality (VR and AR), are now part of the oil and gas industry
The GlobalData’s report, titled ‘Digitalisation in Oil and Gas,’ highlights the role of major oil and gas companies, such as ADNOC, BP, Chevron, ExxonMobil, Shell, and TotalEnergies, in the development and adoption of digital tools to solve business problems.
“Field personnel are extensively using handheld devices to gather data, make notes, and communicate with their team. These changes are aimed at cutting down inefficiencies in workflows for improved productivity and lower costs,” said Ravindra Puranik, oil and gas analyst at GlobalData.
Operational risks are also reduced due to a lesser need for human intervention in hazardous environments, which is a very important benefit of digitalisation.
The adoption of digital technologies is also expected to deliver intangible value in the form of emission reductions.
A recent poll from GlobalData indicated that companies were deploying digitalization to lower their operational emissions. With worries over climate change increasing every year, managing emissions has become critical for the industry.