Similar to the increasing prevalence of the Internet of Things (IoT), the Industrial IoT (IIoT) continues to present itself as the future of the oil and gas industry. The fusion of software, sensors, and devices that makes up the IoT remains on the cutting edge, yet oil and gas have yet to fully seize its benefits. Often companies find themselves using antiquated methods for their data collection, yet the IIoT presents a massive opportunity to redefine the oil and gas industry.
Let’s consider the revenue opportunities, for instance. Oil and gas factor heavily into the global GDP. While lower oil prices are seemingly here to stay, margins are smaller, forcing oil and gas companies to adopt modern technologies versus cutting costs. The monetary gains resulting from saving time with the adoption of the IIoT will likely prove invaluable as competition in the industry becomes fiercer.
While large quantities of data is not something oil and gas are unfamiliar with, there is an ongoing need for improved efficiency and the utmost accuracy. Even minimal improvements in efficiency can have a considerable impact on economic performance. Accurate and prompt data is vital in contributing towards profit in oil and gas. By integrating IIoT, oil production is able to be captured in real-time using sensors and automated data communication systems. In turn, companies can obtain useful information from these assets regardless of location while making informed decisions.
Safety remains a high priority concern in oil and gas. With IIoT, possible issues are able to be identified early, reducing the odds of them becoming a major problem or hazard. Being able to troubleshoot remotely presents a great opportunity for oil rigs to be better regulated. Integrating IIoT also means fewer moments where travel is required and a safer environment for personnel.
The Avanti Company was founded in 1977 by Paul and Justine Devlin and is headquartered in Avon Park, FL. We provide water meters, metering systems, AMI support, on-site flow meter testing, sewer flow monitoring, inspection and assessment services for the water, wastewater, agricultural, petroleum and industrial marketplaces. Avanti represents products from McCrometer, Itron, Hach Flow, Honeywell/Elster, 64 seconds, Infosense, Nicor, DoMac, Liquid Controls, and others. Please visit our website at www.avanticompany.com, email us at email@example.com or call us at 863-453-5336 for assistance with all of your flow meter and metering system needs.