Why AI is becoming a consolidated reality
Intro Artificial intelligence (AI) is a rapidly evolving field with the potential to transform many aspects of our lives. It is already having a significant impact on the job market, creating new jobs and transforming existing ones. Besides that, AI is democratizing innovation, helping people to be more productive and creative. This is leading to a wave of innovation from startups and individuals. However, in order to comprehend AI’s scope, it’s important to consider the fundamental aspects that led to AI’s meteoric rise. AI’s boom Throughout history, society always had the need for technological innovations. Although the [...]
Top 3 Oil and Gas Inspection and Maintenance Trends for 2024
The search for digital solutions to the challenges faced in the oil and gas industries intensifies every year. According to BDO Global, it is predicted that the digital oilfield market, consisting of the internet of things, analytics, and cloud computing, will surpass US$20 billion by 2023. In this dynamic scenario, it becomes increasingly evident that the Oil and Gas sector is embarking on an ambitious journey towards the integration of digital technology as indispensable tools to tackle their most pressing challenges. Among the myriad of trends shaping the landscape, certain key areas emerge as paramount [...]
Paper vs Digital Inspections
Intro Oil and Gas operations pose unique challenges to their operations when the matter is inspection and maintenance. Since this kind of activity involves a variety of risks and complexities, it is not uncommon to find field workers filling out paper reports, and walking around the facility looking for potential problems. This is a traditional-manual method, on which oil and gas companies relied throughout the years when performing risk assessments with the goal of preventing potential hazards that could compromise the continuity of the operation. Meanwhile, digital transformation has been disrupting the way things are done with increasingly advanced [...]
3 Ways to Improve Oil & Gas Industries’ Operations Through Digital Transformation
Although each industry has its own specificities, it is common to find some standard problems in Oil and Gas companies, mainly due to poor data management and contextualization. As main focuses, we can mention the difficulty in assertively inspecting the structural integrity of the industry, lack of complete understanding of the efficiency of equipment, and poor operational and worker safety. Therefore, knowing the recurrence of these problems, the following list shows how, through the digital transformation process, it is possible to minimize the consequences generated by poor data management, more specifically by applying Digital Twin technology to the operation [...]
The Importance of Asset Performance Management in Today’s Business Environment
Introduction In today's fast-paced business environment, maximizing the performance of industrial assets is critical. Asset Performance Management (APM) is the process of optimizing the performance, reliability, and safety of physical assets, such as machinery, equipment, and infrastructure. Effective APM can help businesses reduce downtime, improve efficiency, and increase profitability. In this article, we'll explore the importance of APM in today's business environment and how it can help you stay ahead of the competition. From identifying potential issues before they become major problems to implementing proactive maintenance strategies, we'll cover everything you need to know to get the most [...]
What is Process Safety Management
Intro The oil and gas industry is characterized by the exploration of oil and natural gas in extremely hostile environments generating constant risks to the staff, the environment, and also to the integrity of the plant. Offshore operations are marked by their high complexity, with many processes occurring simultaneously in tens of thousands of heavy assets. In this scenario, operational safety management has the objective of developing internal procedures in order to avoid accidents and provide assertive measures to decision-makers. What is Process Safety? As mentioned before, Process safety management is about developing efficient and effective safety management [...]
Why ESG concepts are totally related to digital transformation in industry
ESG (Environmental - Social - Governance) concepts have been gaining much attention in recent years. In collaboration with major global goals, such as the Paris Agreement and the SDGs, the concept focuses on sustainable growth, social responsibility, and transparent corporate governance. Turning these practices to the industrial ecosystem, it is possible to identify several challenges that obstruct the commitment to a net-zero operation, such as the extensive emission of greenhouse gases, asset failure, and non-optimal energy consumption due to operational inefficiencies. The emergence of digital transformation and digital technologies has opened up new opportunities for achieving optimal operational [...]
Unlocking the Potential: Exploring the Fascinating World of Digital Twin Technology
Digital twin is a technology that has gained great prominence over the past few years for generating amazing results. The technology emerges in the midst of a movement known as digital transformation, which has revolutionized the way companies relate to their customers, operate, and develop their products and services. What is a Digital Twin? Despite the big boom behind the digital twin the term was conceived in 2002 by Michael Grieves and has since been applied for different purposes. But how could we define a digital twin? Well, the technology consists of a digital [...]
Digital Transformation in the O&M phase
As industrial processes become increasingly complex, more data are collected by sensors and technologies from digital transformation. However, this gathered information is not always centralized and contextualized, making the process of asset integrity management even more difficult. The Fourth Industrial Revolution and the increased investment in new technologies by companies are constantly generating better results in their processes. One of the main gains from this is the improvement of the Operation and Maintenance phase of the industry (one of the most enduring stages of Project Lifecycle Management) with tools that keep up with the complexity of the operation and [...]
Data Contextualization to the O&M Phase
In the last 10 years, the amount of data generated by industries is the largest in history. Despite the growing digitalization of the sector, there is still a great need to contextualize this information to be effectively useful to the industry. In the contextualization process, three questions are fundamental for data processing. What is it? What is it for? and Who is it for? From this, a filtering process begins, the goal of which is to classify data as useful or useless. In addition, the contextualization process is also responsible for formatting the data into usable [...]
