IoT and Digitalization of Oil and Gas Production

February 2018, Vol. 245, No. 2

By Dave McCarthy, Senior Director, Bsquare Corporation

The oil and gas industry faces key challenges in both production and business environments. Capital expenditures across the industry are decreasing by roughly 20% annually, while at the same time the amount of data coming from the oil field can exceed 1.5 terabytes a day and threatens to overwhelm IT departments. However, through more efficient use of device data, advanced cloud-based data analytics, and automated application of corrective measures, the normal production decline of 10-15% annually could be slowed to as little as 5%. Additionally, facility capital costs can be reduced by up to 3%…

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