Internet of Things (IoT) Solutions for Oil and Gas Supply Chain Optimization
As the oil and gas industry rebounds from pandemic-related upheavals of the past few years, operators are increasingly investing in Internet of Things (IoT) solutions for developing stronger supply chains. IoT solutions for oil and gas supply chain optimization offer innovative opportunities for improving the overall value — for example:
- Upstream - Improving imaging increases discovery visibility and accuracy
- Midstream - Improving safety and traceability in storage, processing, and transportation
- Downstream - Increasing availability, reliability, and B2B/B2C commercial excellence
- Environmental - Reducing emissions and preventing/mitigating gas leaks and oil spills
Keep reading to explore these advantages in greater detail. We also explain the special safety requirements for oil and gas supply chain optimization in potentially explosive Zone 1 environments.
IoT Solutions for Oil and Gas Supply Chain Optimization
Energy sector analysts recognize the challenges of recovering from delays and setbacks at energy production sites and transport links. However, McKinsey
researchers report that greater investments in digitization
and IoT solutions are essential for survival in this period of economic uncertainty. A recent report from GlobalData
concurs, predicting global IoT revenue in the energy sector will increase from $34 billion in 2019 to $59 billion by 2025.
Many investment ideas receiving leadership support are leveraging IoT solutions for optimizing the oil and gas supply chain. Among the many advantages of IoT solutions, supply chain optimization offers measurably profitable opportunities, such as reducing costs and improving predictability, visibility, traceability, and safety. What's more, these opportunities are available throughout the entire journey from upstream discovery to downstream markets, and they offer valuable environmental benefits
IoT solutions provide upstream opportunities for capturing over $5 per barrel
of oil equivalent (BOE) in added value. For example, IoT-connected remote sensors enable greater visibility
and accuracy during exploration and drilling. They also provide end-to-end well and reservoir management and predictive maintenance
based on real-time, data driven advanced analytics
Innovative IoT solutions for midstream operators
include deploying real-time remote sensors for improving safety and traceability in storage, processing, and transportation operation. For instance, connecting sensors to pipelines
, valves, and other critical infrastructure components offer real-time monitoring of supply status and cost savings via early detection of emissions
, leaks, and/or spills.
Increasing profitability and delivering costs savings of over $1 per barrel, downstream opportunities include IoT solutions for supply chain optimization, managing asset integrity and reliability
, and boosting B2B/B2C commercial excellence
Reducing emissions throughout the oil and gas supply chain not only boosts EPA compliance
but offers valuable benefits to the environment
through greater efficiencies in production and transport. It also mitigates and/or completely avoids accidents and damage from gas leaks and oil spills via real-time monitoring of IoT sensor data.
Boost Your Opportunities with Aegex Technologies
Investing in supply chain optimization is a top priority and possibly the best means of survival for many organizations struggling with supply chain disruption and market volatility. Partnering with world-class Aegex Technologies
exponentially boosts your opportunities by leveraging our valuable expertise and cost-effective state-of-the-art IoT solutions.
Especially at potentially combustible oil and gas work sites
where sparks from standard electronics and smartphones could cause explosions, our globally certified intrinsically safe IoT solutions offer the best means of achieving successful supply chain optimization. With the Aegex IoT platform for hazardous locations
empowering your organization, you gain instant access to an integrated ecosystem
, customizable IoT-based applications, NexVu sensors
, and aegex10 tablets
for all aspects of mobile computing. This provides you with data-driven decision-making and secure communication.
If your organization needs state-of-the-art oil and gas supply chain optimization, you need leading-edge Aegex Technologies.
Let us show you how Aegex digital tools for Zone 1 Haz Locs can boost profitability, increase sustainability, and improve your organization's overall success. Please contact us
for more information.