How the Internet of Things (IoT) Is Changing the Oil & Gas Industry

The Internet of Things (IoT) is a new concept in the oil and gas industry. It’s essentially a network of devices and systems connected to the internet. With the IoT, these systems can communicate information to other connected devices.

Overall, the IoT is revolutionizing the oil and gas industry and making things easier, safer, and more cost-effective for all companies. Here’s how.

Remote Monitoring

Monitoring systems in plants used to be a difficult task for many companies in the oil and gas industry, but the IoT is working to change that. With IoT technologies, systems are connected to one network and programmed to relay information back to a device such as a smartphone or tablet that’s connected to the same network.

Workers can access the information gathered to help them better understand how the system is performing, and they can monitor each system and analyze information virtually from any location.

Remote Services

IoT technologies also work to make repairs and services safer and more cost-effective in the oil and gas industry. The information collected from each system allows workers to actively monitor overall system performance so they know when to schedule repairs and maintenance.

Connected systems can be programmed to send alerts to other connected devices if they begin to fail. Alerts also can be sent when systems are about to experience a high-pressure situation, malfunction, or any other dangerous issues.

Some technologies can even be programmed to self-diagnose and self-repair. This eliminates the need to hire additional workers for repairs, which saves companies a great deal of money in labor costs.

With IoT technologies, systems can be repaired and serviced remotely or even autonomously. This is especially beneficial for those working with more complicated and dangerous systems because remote services can help to reduce the risk of workplace injuries.

Data Collecting

We already know that the IoT communicates system information to other connected mobile devices. However, it can also store the important data a company needs in an online storage unit, like a cloud computing system.

A cloud computing system is like an online server. It stores system performance details as well as any other important company data. It can be accessed from virtually any location but is secure enough to ensure that company details and information is protected from hacking.

Asset Tracking

Asset tracking is one of the biggest areas that the IoT is working to change in the oil and gas industry. With the IoT, companies can use sensors to monitor everything from inventory to oil and gas shipments traveling across the world.

These sensors can let you know exactly how many supplies are in your inventory and if any items are missing. They can also be used to track shipments and can relay the location of each shipment back to your office.

Certain sensors allow you to monitor the condition of oil and gas shipments as well. They can track temperature changes, leaks, and other issues that occur during transit. Plus, some systems can even let you address the issues remotely to prevent serious problems from occurring.

The IoT is definitely changing the oil and gas industry but in the best ways possible. To learn more about the effect of technologies in the industry, check out our post on technology improving offshore energy resource development and maintenance.