Digital oil field solutions encompassing advanced software and unique data analysis techniques have taken the production and profitability of oil and gas to the whole new level. While digitalization emerges as a positive change, there are a plethora of intricacies that need to be addressed to harness Digital oil field solutions full potential for both business and society. In tandem, the exponential increase in global information flows have created new risks around data privacy and security and businesses across sectors are struggling with challenges related to changing customer expectations, cultural transformation, outdated regulation, and skill shortages – to name a few.
The evolution of oil field solutions is complemented by the technological innovations such as Industrial internet of things (IIoT), mobile connectivity, cloud computing, big data analytics, augmented reality, and artificial intelligence (AI) is driving vast improvements in the digital oilfield framework. As a result, it is improving return on investments by reducing operating costs, increasing output, and eliminating unscheduled shutdowns. Besides, the convergence of automation, communications, and information technology (IT) has enabled oil and gas companies to create digital oilfields, pipelines, and refineries. The companies have also begun to embed smart devices in wellheads, compressors, pump stations, and within refineries to yield a new wealth of operational information. To make sense of the data, leading oil and gas companies are taking advantage of advancements in wireless technology, control systems, and visualization software to create ‘the connected enterprise’.
It is no surprise that staying up-to-date on new technologies is the secret to stay ahead of the game. To aid businesses stay up-to-date on these technologies and select the best vendors from the bazillions that offer most promising solutions, a distinguished panel comprising of CEOs, CIOs, Analysts and the Energy CIO Insights’ editorial board, has reviewed companies with a proven record of expertise in assisting organizations with cost-effective and best-of-breed solutions. The panel has weighed varied range of products and software solutions for drilling automation, application deployment, infrastructure optimization, and data analytics for production.
In this edition of Energy CIO Insights, we present the “Top 10 Digital Oil Field Solution Providers - 2018.”