Biz4Intellia IoT – Oil Well Monitoring Solution

It is an understatement saying that in the recent past, the Oil and Gas industry had a 'tough' couple of years. There was a time, when this industry had become a subject of constant criticism. It had failed to stay abreast with the modern times and demands from society. This is the reason why the industry invested in modern solutions. Since the implementation of the Internet of Things (IoT), it has witnessed stupendous profits. IoT has revolutionized Oil and Gas operations through smart strategies that were once even impossible to think of. Collecting vital information and utilizing them to make effective business decisions is now easy. IoT, has helped the Oil & Gas industry in several ways. It has:

1. Optimized Pumping Activities
2. Decreased Pipe Maintenance Cost
3. Minimized Failures and Identified Gas Leaks
4. Identified Pipe Thickness, Temperature and Flow

In this modern world, things move at lightning speed. The customer expectations too are rising with each passing day. Businesses are reeling under tremendous pressure to suffice customer expectations. Here, IoT comes for the rescue! With effective sensors, collecting yottabytes (a trillion terabytes (TB)) of data from various sources help business in better and faster formulation of business strategies. This also helps businesses in understating the areas of improvements better. Once this is done, businesses find it simpler to optimize their operations better. No other technology other than IoT has managed to gather data so well for industries, especially for the Oil & Gas.

An in-depth optimization is a must for each and every Oil and Gas company to perform better. It does not matter of what size the company is, maintaining safety measures is crucial all the way through. The data collected by the IoT sensors are utilized for analyzing the opportunities and scope for drilling a new well. The results assure better profitability. Perfect well drilling requires injecting chemicals (Pottassium Chloride KCL. This helps in boosting polymer performance such as viscosifiers and filtration controllers. Bentonite, helping in boosting hole cleaning capabilities of drilling fluids. Barite, does not react with other drilling fluids or hamper their functioning. Calcium carbonate helps in cleaning up the holes that are digged for oil well drilling) into the well so that the viscosity can pull the rocks up without hampering the process. This accentuates the potential of the well and makes it effective for any given working condition. Striking a perfect balance of oil flow pressure and oil temperature is crucial. For maintaining profitability, organizations must keep a track on the oil extraction processes.

Oil & Gas companies have complex operational processes. Thus, high concentration levels and attention to minute details is crucial. Through IoT strategies, Oil & Gas companies get transparency related to the microscopic conditions varying from temperature, pressure, chemical composition, viscosity, etc. IoT helps in collecting a large amount of data. Next, that data is analysed for profitable drilling processes. This helps an organization in optimizing its market share in noticeable ways.

This is the successive step towards wireless sensor technology that has come from the evocation of the industrial control systems. It does not matter at what remote location the Oil & Gas industry is, the Internet of Things has reduced the costs and has connected everything in the Oil and Gas industry. There came a phase when the wireless sensors had become popular in the market. Eventually it became easy to access them. Hence people utilised them to connect different devices in simple ways. Businesses realized IoT's potential for collecting data. That collected data is later utilized for improving business processes.

Highlights of Biz4Intellia Oil Well Monitoring System -

Biz4Intellia Oil Well Monitoring Solution caters following operations and services thus mainly focusing on Asset protection, safety, compliance and sustainability of the environment-

Productivity and Remote Monitoring

The demand for energy has globally increased in the last few years. Numerous wells were drilled in the last century. But, the number of wells that will be drilled in the future will exceed the ones that are already drilled. Unfortunately, the existing wells are located in remote and complex environments. It gets challenging to monitor them as these oil wells are located thousands of meters underground where an unusual rock formation lies.

IoT based monitoring system involves smart objects and devices. Biz4Intellia takes this to an entirely new level. Biz4Intellia ensures that the devices are connected with each other for efficient and reliable monitoring of the Oil & Gas wells. Various parameters like temperature, pressure, vibration and etc are identified through smart IoT devices. For example: Biz4Intelia's IoT sensors are outstanding at sending crucial data to the control centre. It is a real-time production monitoring system that boosts production, minimizes downtime and revises the overall recovery of the Oil & Gas system.

Alarm Support System

It requires modern strategies to overcome modern challenges. The traditional methods of oil extraction from oil wells have gone completely out of style. Despite of this fact, the Oil and Gas industry continues using them. This causes a lot of problems for the industry. Hence, industrialists implemented Internet of Things in their working models.

Biz4Intellia, an end-to-end IoT solution caters the feature of an Alarm system which informs of any problem prior to the situation gets unsafe or become worse. Alarm parameters are to be set by the user for every sensor being used in the integrated system so that they can be tracked in real-time. Hence, alerts can be sent accordingly. These alarms denote the pressure, temperature, vibrations and pump on/off status, which later on gets delivered via SMS, e-mail or any other mode of communication to the end-user.

The alarm system is such that it proactively reports about the anomalous events that occur so that the predictive maintenance of oil well can be taken care of. The real-time detection and reporting of the catastrophic failures and other destructive events increases the downtime and saves energy by 35%.

Real-time Compressor Performance

Carrying out successful operations in the Oil and Gas sites require efficient equipment. Monitoring and tracking Oil and Gas tankers at remote locations becomes an extremely challenging task. But, with smart IoT strategies, managing these complexities became simple. It also requires less time and money for giving the best of results. Hence, numerous organizations are deploying IoT devices that monitor and collect data from the field to ensure better automation and operation.

The downtime of compressors wipes away thousands of dollars per hour in the production loss. Therefore, remote monitoring of compressors ensures that the equipment is working to its full potential. Pressure readings and temperature readings give timely and reliable information to assist schedule maintenance and production activities.

Health status of Oil Tank

The Environmental Protection Agency (EPA) states that there are approx. 1.3 million regulated underground storage tanks in the United States. While the American Petroleum Institute (API) stated that there are about 700,000 petroleum storage tanks, which are operational. Whether they hold oil, petroleum or gas, monitoring them properly to identify leakage, overflow, spill etc. is essential.

Level sensors are used in the tanks. They help in understanding whether the tanks are about to be full or not. Tanks are required to be emptied as well in order to maintain a good tank status.

Also, these sensors help in identifying the possibility of corrosion. When this possibility is first detected, it serves ample of time to the managers to take preventive measures. This saves huge sums of money that otherwise would have gone in tank repairing. This is what makes this solution very cost-effective.

OVERVIEW OF BIZ4INTELLIA OILWELL MONITORING SYSTEM

Wrapping up

IoT in Oil and Gas industry has positively impacted every area of the oilfield that has challenged the operational processes of the industry. The data, accumulated from the IoT sensors protect the workers from sudden mishaps. This automatically improves workforce & machine efficiency. Monitoring assets and boosting sustainability levels gets simplified. This effectively happens for both the work and general environment.

On a present note, the selling price of sensors and other electronic hardware devices are becoming economical. This is consistently expanding the IoT Systems. Internet of Things is not about deploying the devices and sensors but using them efficiently to generate useful and intelligent information. Due to non-productive time and improper maintenance of assets, the Oil and Gas industry tend to lose billions of dollars every year. With the rapid transformation in technology, this industry has gained momentum in the market. This has helped both the industrial giants and start-ups to invest huge sums of money. Hence, better legacy systems were created.

Recent observation by Oil and Gas Industry experts reveals that IoT solutions for Oil and Gas industry have boosted the industry output by 45 percent. McKinsey estimates that offshore platforms on an average are running at 77 percent of maximum production levels.

IoT and advanced analytics tools have the ability to boost this, allowing Oil and Gas companies to analyse the stupendous volumes of data they collect to gain valuable industry insights. These insights help related businesses in formulating competitive strategies that beat the ruthless market competition. If applied intelligently and accurately, the advanced analytics solutions can yield returns as high as 30 to 50 times of the investment amount. This happens within a few months of the deployment, says a report by a renowned management consulting firm.

The data, accumulated by the sensors are always accurate. When that data is analysed and applied in businesses, it boosts productivity. According to a research by Deloitte, several decisions are required to be taken for the well's development. The data collected by the sensors provides insights of the impact of the choices made during a well's development stage. The decisions made during the well development stage, decides the effectiveness of production strategies. The successful integration of connected devices in the Oil and Gas Industry will touch nearly every angle of the oil and gas supply chain. It starts from the operations to the customer engagement. Hence, the industry can take the maximum advantage of the opportunities to instil change in the legacy industry.

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