Automation of Oilfield Operations to Double by 2020
Forty percent of companies by 2017 will have plans in place for collaboration, social and cognitive capabilities to improve and simplify planning. Growing energy demand in Southeast Asia and India will prompt 30 percent of oil and gas companies operating in these regions to add capabilities to deploy operations by 2019, such as cloud services.
Digital twin technology is also expected to transform the oil and gas industry. By 2018, 75 percent of oil and gas organizations with more than 10 operating wells will have digital twins of each individual platform. GE reported in The Economist last month that increased computing power and connectivity are making it possible to virtualize the task of gaining detailed information about the status of any operating industrial equipment by creating and maintaining a digital representation, or digital twin of any piece of real equipment, plant or engine. Until the start of this century, the only way to gather this information was to be in physical proximity to a piece of equipment and have the ability to inspect it.
By 2019, all major oil and gas companies will introduce natural interfaces for a 10 percent reduction in maintenance costs and to reduce training costs by 25 percent. Natural interfaces will allow for more human oriented interaction. Additional high performance computing appliances also will be needed for oil and gas companies to stay competitive as full waveform inversion penetrates the industry by 2018, IDC noted.
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Senior Editor | Rigzone