Over more than a decade, the promises of industrial automation, artificial intelligence (“AI”), Machine to Machine (“M2M”) communications and the overall Industrial Internet of Things (“IIoT”) have inundated energy companies with grand visions of a “Digital Oilfield”. Many of these advancements have been made under the stress of falling oil prices, industry downturns, and now the coronavirus pandemic, which has forced companies to look for new, more efficient and tech savvy ways to reduce capital and operating expenses in a lower commodity price environment.
For all the industry’s advancements during times such as these, the promise of the digital oilfield has remained largely inaccessible. Advancements in automation, AI, remote monitoring, and the promise they bring of reduced capital and operating expenses have yet to be fully realized. One reason is that as advanced as the oil and gas industry has become, it’s not when it comes to remote oilfield connectivity. Read More