In the last few years, Oil & Gas companies around the world have made dramatic modernizations to how they operate their oilfields. More than ever, today’s Oil & Gas operations are safer, more collaborative and much more productive than ever before. The processes and technologies that have allowed these improvements are centered on enhanced workflows and efficiencies. More data, from more areas of the operation, is coupled with advanced analytics to provide an increased understanding of the physics and activities of the oilfield. With the recent oil price drop, at no other time in history has the energy sector been more keenly focused on advancements in workflow efficiencies that provide long-term benefits and OPEX-driven savings. Today, the digital convergence can help oil companies weather the tough economic times and thrive in the future.
Due to oversupply of crude from both conventional and increasingly unconventional sources, gone may be the days of the $100 per barrel oil price. Since June of 2014, the Oil & Gas industry has been challenged like never before. While drastic cost cutting measures are rampant across the industry, leading oil companies are taking this opportunity to reassess their entire business operation. Today, it’s not just about drilling faster and producing more – now oil companies need to find ways to ride out the storm to remain relevant in the short-term and invest to gain competitive advantage for the long-term.
Faced with the need for a more efficient workflow despite a smaller workforce, the industry is challenged to meet the increasing and challenging demands for safety, collaboration, and enhanced oil recovery. To achieve this, Oil & Gas companies require a centralized network that offers high performance and security, and supports multiple end devices in multiple different locations – all with fewer people. For this to be economically viable, each element of the network must operate with mission critical reliability.
More than ever, the energy sector is realizing that now is the time to invest in advanced technology to help improve operational efficiencies of existing projects as well as maintain and protect assets and infrastructures. All of this requires improved automation to capture data, and advanced analytics for quick actionable insights to enable faster resolutions.
No matter how data and information is transferred over an entire network, every high functioning and efficient oilfield requires five communication network characteristics:
- Guaranteed reliability, security and performance
- Extended range
- High capacity, low latency
- Complete L2/L3 interoperability
- Non-Line of Sight (NLOS) functionality
Ultimately, the intelligent digital oilfield is the most economically viable operation during a market downturn because it supports all of these requirements. Those who adopt new advancements in wireless communications technology will gain greater operational efficiencies and productivity across the entire oilfield.