5 Digital Trends That Are Revolutionizing the Oil and Gas Industry

The UK is facing a growing global energy crisis, which is driving up oil and gas prices. This is a major challenge for consumers and gas and oil companies alike, who are struggling to meet demand.

Digital innovation is essential for the oil and gas industry to succeed in the face of increasing pressure. By adopting a digital-first approach, companies can alleviate the oil and gas crisis and work more efficiently.

In this article, we will explore five digital trends and innovations that the oil and gas industry can benefit greatly from.

The Rise of Robotics and Automation
Working within oil and gas industry workers  can often be exposed to hazardous materials, extreme temperatures, and confined spaces. In recent years, there has been a growing focus on safety in this industry, and robotics and automation are playing a major role in this effort.

Frost & Sullivan reported that the global gas and oil automation market is growing rapidly due to two key reasons:

–  To overcome COVID-19

–  To meet the growing need for efficiency, sustainability, and safety

The global gas and oil automation market is expected to reach £18.69 billion by 2025. This represents a staggering increase of 43% since 2020. The market is also growing at a compound annual growth rate (CAGR) of 7.5%.

Digital Equipment Testing
Oil and gas sites are inherently dangerous. While there are safety measures in place, such as efforts to eliminate hazards and providing workers with personal protective equipment (PPE), there is always room for improvement.

Regular safety examinations of systems can help to prevent accidents. This is because they can identify potential hazards and risks before they cause harm.

Enerpac’s Safe T™ Torque Checker is a device that can be used to validate and test the exact torque equipment used on-site. This includes the pump, wrench, and hose. The checker provides a precise digital readout of the torque, which can be used to ensure that the equipment is operating correctly and safely.

The performance and safety of an entire system can be instantly validated with digital equipment testing. This minimizes the chance of errors and incidents by identifying and addressing potential problems before they occur.

All-in-one data analytics tools
In the gas and oil industry, massive amounts of data are generated on a daily basis, which play a critical role in day-to-day operations.

Data is essential for many industries, as it provides powerful insights into production and performance. These insights can then be used to optimize processes, develop AI-driven algorithms, and improve performance.

The Power of Laser Scanning and 3D Printing
Sourcing complex, customized stand-alone parts can lead to extended downtime for oil and gas companies. This is a major issue in the industry, as it can result in significant revenue losses.

One way to reduce downtime by months and optimize operations is to laser scan every part of the impeller 3D models and 3D print metal fabrications.

As a result, companies can enjoy greater precision, insight into potential problems, and shorter planning times.

Sensors on the ring collect data that is then analyzed by cloud-based solvers. This process can help identify safety risks within the reservoir and provide new insights into structural design.

Adopting digital innovation can significantly help oil and gas companies overcome current challenges and stay ahead in a competitive market.

In addition, current digital trends can help improve operational efficiency, enhance worker safety, and reduce critical costs.

This can be achieved simultaneously with improving processes and technology.