Smart IoT solutions connect the oil and gas industry equipment and automate processes through advanced wireless M2M (Machine-to-Machine) solutions. It offers enormous process improvements and delivers clear and latest data on operations.
Worldwide IoT in the Oil and Gas Market is expected to reach $39.40 Billion by the end of 2023.
Organisations functioning in the oil and Gas sector get significant value by making integrated IoT strategies focusing on the business revolution.
The extensive IoT use for data capturing and advanced assessment aid businesses save millions by mitigating business pipelines/well and equipment breakdown and enhancing the outcome.
The use of IoT in the oil and gas industry can also impact the universal GDP.
In this post, we have mentioned some solutions that smartly streamline the Oil and Gas industry process. So, let’s start exploring.
IoT Solutions Impacting O&G Industry
|1. Fleet Monitoring Solution
With IoT-based Fleet Monitoring solutions, fleet managers get help from Real-time fleet locations and can get essential data support which aids improve business operations. The system simplifies Logistics activities using immediate sensor data and signals.
With the solutions, opt for flawless delivery routes and ensure driver safety at all levels is effortless. You can use different vehicles with strongly coordinated logistics. It also helps to mitigate redundant fuel consumption, decrease transport blast chances, and boost productivity and profits, all in a budget-friendly manner and within a stipulated time frame.
You can track your fleet anytime, from anywhere
- Optimal route management
- Temperature sensing of transport tanker
- A weight measurement of oil transporter
- Fleet monitoring and trip management
|2. Leak Detection with AI/ML Solution
Unexplored gas or oil leaks can be dangerous to life and business. With IoT-driven Leak Detection solutions, you can take security measures in advance. Without any extra cost of mining the site, you can use these safety solutions.
This solution helps to detect oil and gas leaks non-invasively and non-destructively. You can avoid immutable harm using real-time pipeline leakage detection. IoT uses advanced tools like real-time metres and sensors to provide a foolproof solution.
Discover leaks quickly and in advance to avoid accidents
- Methane Gas Detection
- Real-time Pipeline Leakage detection
- Real-time Alert System
- Remote Area Pipeline tracking
|3. Oil Well/Tanker Tracking Solution
Real-time IoT-driven Oil Well/Tanker Tracking Solution helps you get quick data to support taking safety measures. It aids in improving business activities for more revenue generation. A single error in the maintenance of oil well/tanker protection from explosive materials can generate big accidents in the surroundings.
With this solution, you can track remote oil wells, tank level and temperature, oil tanks, water pressure etc., effortlessly. The solution saves time, money, and resources while offering suitable business outcomes and improving its possibilities.
Improved layer safety for your well and Oil Tankers
- Track tank level and temperature
- Remote Oil well tracking
- Water pressure tracking
- Tracking Oil Tanks Remotely
|4. Energy Monitoring Solutions
IoT-based energy tracking solution delivers in-depth visibility on energy consumption or generation in your manufacturing plant.
Not only at the building level or manufacturing unit, but you can get in-depth insights about your energy consumption at the level of a room, machine, line and even specific product.
- Decrease Energy Consumption
- Identify Abnormality in Consumption
- Optimise Cost
- Mitigate Operational Costs
- Get Real-time Energy Insights
- Anticipate Future Energy Needs
- Increase Facility Performance
- Boost ROI
- Reduce Electricity Demand Charge
- Trace Energy Capabilities
- Identify redundant Equipment Operations
|5. Cargo Monitoring Solutions
Cargo monitoring solutions help logistics and fleet managers monitor the goods in transportation.
It is possible to track different aspects such as humidity, temperature, luminosity, and weight from goods-carrying vessels, containers, or trailers. It does not make any difference if they are transported through road, rail, airways, or ocean routes.
You can see goods movement and help cargo managers to improve their supply chain.
- Wireless cargo monitoring
- Real-time alerts
- Mitigate cargo theft risk
- Reduce operational overheads
- Remove manual supervision costs
- Enhance supply chain efficiency
- Ensure cargo security
- Curb unknown cargo damage
- Deliver before ETA
- Detect logistics blind spots
|6. Smart Contract Solution
A Smart contract solution is an advanced way to safeguard the title of the goods. The solution is driven by IoT and blockchain that removes manipulation/alteration of contracts.
The sensors in goods containers perform the role of Smart agents and track the real-time location, temperature, RH, etc. in the acknowledgement with the Smart Contract. All the relevant parties are notified on the go if there is any contract break.
- Ensure Cargo Safety
- Mitigate Working Capital
- Prevent Cargo Damages
- Enhance supply chain Visibility
- Digitise Shipping Contracts
- Guarantee Full Compliance with BoL Terms
- Realise quick Insurance Claims
- Mitigate Operational Overheads
- Remove Manual Processing
In a Nutshell
IoT app adoption in the O&G sector will enhance operational efficiency, watch out for requirements emerging in near-real-time, and expand a business.
As a segmented sector with different streams, Oil and Gas advantages from a strong framework in which IoT apps and deployments are carefully tracked throughout the ecosystem. It contains up, mid, and downstream players.
O&G is one of the asset-intensive industries featured in the economy. It will get advantages greatly using asset tracking solutions and predictive maintenance.
Those solutions may even be a necessity to maintain a competitive edge in the O&G market worldwide.
