IoT Enabling Oil & Gas Sector to Achieve Operational Excellence

The oil and gas industry as a whole is a powerhouse industry that is solely responsible for the exploration and refining of the crude. Exploration & Production (E&P) companies along with oil-field service (OFS) providers, use heavy pieces of machinery like wellheads and pumpjacks to extract raw oil from deep grounds. Similarly to their onshore counterparts, Subsea Christmas trees along with AMF Deadman are used to plunge out crude from deep ocean floors.

For the transportation of crude, the oil & gas companies depend either on their huge pipeline network or on 3rd party vendors, who transport oil via trucks, ships, or railways. Oil refineries constitute the downstream segment of the oil & gas industry and are distinctly responsible for the generation of petroleum-based products from the crude oil.

Such a big system, facilitating the transformation of crude into refined products is compelled to face several challenges. These challenges in terms of increased equipment complexity, oil-theft, and rise in carbon footprint lead to severe political, social, industrial, and environmental implications.

IoT based asset monitoring in the oil and gas industry lets companies extend the life of their expensive machines. It allows users to monitor different parameters associated with the working of machines from remote locations. This reduces the cost and time associated with random inspection & maintenance tasks and helps companies to enhance the overall equipment effectiveness (OEE) of their machines and assets.

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