How Digital Technology Has Made The Oil Industry Cleaner And More Efficient
Environmentally friendly oil companies are taking advantage of cutting-edged technology to increase output, reduce waste and increase environmental safety in ways that were impossible just a few years ago. When they properly implement digital technological measures in the field, it gives them a competitive edge; technology is a win for the oil producer, consumer and the environment.
When switching over to digital technology in the field, companies see the following benefits:
Fast Data Access
The great thing about going digital is that you don’t need to be present in an oil field to communicate with the employees there; when you can effectively communicate over digital lines, you can quickly make changes, and this maximizes profits while making the fields a safer place to work. Quick communications mean that managers can make better on-the-spot decisions, and if they do get stuck, they can call in for help quickly.
A company that has access to organized data is primed for success. There’s tons of information floating around an oil field, and if you can funnel it in a way that is easy to make sense of, you can analyze it quickly.
Organization does require some tweaking from the information management side of the business, but once it’s done, you see almost instant benefits. Companies like Sentry Energy have implemented advanced data systems like this, and they’ve noticed that benefits materialize almost immediately; when compared to older data streams that took forever to analyze, this makes running the business a cinch.
Leverage Existing Technology
When implementing a new technology, you don’t necessarily have to get rid of your old framework. When you can combine the new with the old, you get the benefits of new technology, but you don’t have to waste money on a new infrastructure. This lowers implementation costs, and it allows you to piggyback on legacy systems that you invested in before.
It’s easier to figure out what you need in a new system when costs aren’t limiting your choices. When you use your old framework, it’s easier to make operational decisions; you can do what is best for your business without worrying about bankrupting yourself during the process of upgrading.
Implementing digital technology in the field is an easy decision for oil companies that want to increase their return on investment with very low risk. When you use new communication technology, you invest in something that gives you an advantage over your competition, and it makes the process of drilling for oil cleaner and easier. When drilling is easier, it means that you can expand where you drill, and that gives you access to oil fields that you previously couldn’t afford to use.