With an impact on almost every sector of the global economy, crude oil is among the most traded and valuable commodity in the world. It is currently the most important source for both fuel and energy that acts as a driving force for almost every know industry.
The oil and gas industry as a whole is a powerhouse industry that is solely responsible for the exploration and refining of the crude. Exploration & Production (E&P) companies along with oil-field service (OFS) providers, use heavy pieces of machinery like wellheads and pumpjacks to extract raw oil from deep grounds. Similarly to their onshore counterparts, Subsea Christmas trees along with AMF Deadman are used to plunge out crude from deep ocean floors.
For the transportation of crude, the oil & gas companies depend either on their huge pipeline network or on 3rd party vendors, who transport oil via trucks, ships, or railways. Oil refineries constitute the downstream segment of the oil & gas industry and are distinctly responsible for the generation of petroleum-based products from the crude oil.
Such a big system, facilitating the transformation of crude into refined products is compelled to face several challenges. These challenges in terms of increased equipment complexity, oil-theft, and rise in carbon footprint lead to severe political, social, industrial, and environmental implications.
Companies associated with the oil and gas sector are henceforth always in search of tools and technologies that can help them to counter these complexities. The Internet of Things is one such technology that with its advanced analytics and telematics capabilities is allowing the oil companies to get rid of these complexities.
Intellia IoTâ€”a Single Stop Solution for Oil & Gas Sector:
Biz4Intellia, a leading force in the IoT sector has developed a state-of-the-art product named â€śIntellia IoTâ€ť that presents the sector of oil and gas an opportunity to make ground-breaking developments.
â€śIntellia IoTâ€ť is an end to end IoT solution that gives its users the power to monitor the condition and performance of their assets from remote locations. It is a systematically designed platform that encompasses high-tech electronics and a configured IoT dashboard suite that allow users to keep an eye on their industrial operations.
The implementation of â€śIntellia IoTâ€ť offers several benefits to the oil and gas industry as a whole. With its features like advanced analytics, telemetry, and cognition capabilities it is revolutionizing the upstream, midstream, and downstream segments of the oil & gas industry. In terms of remote equipment monitoring, it allows the oil & gas companies to boost the efficiency of their assets and enhance their plant efficiency. Let us explore this feature in detail.
Reaching Operational Excellence with Intellia IoT Based Asset Monitoring:
Most of the oil extraction procedures happen in remote areas that are under the influence of extreme environmental conditions. Manual inspection of oil extracting machines like wellheads, subsea Christmas trees, and Pumpjacks, is difficult and risks the safety of the workers. Moreover, these machines operate collectively with several other pieces of machinery and even a minute hiccup, breakdown, or malfunction of a single component can compromise the operational efficiency of the whole extraction process.
â€śIntellia IoTâ€ť product implementation can help the oil exploration and production companies to enhance their operational excellence. Sensors and meters can be used to measure different parameters like temperature, pressure, humidity, etc. Moreover, thresholds can be set to gain an alarm whenever a particular variable crosses the permissible range. Let us understand the feature of equipment monitoring comprehensively with a use case.
A pumpjack is similar to a hand pump that is used to extract oil from wells. These devices are used in wells where the pressure of oil is not high enough to force itself out on the surface. A prime mover (motor) powers the walking beam and sucker rod that 1plunge out the oil from the well. However, there are several complexities associated with the working of a pumpjack.
The pumpjacks are prone to rod/tubing wear and pump failure due to pump-off conditions and fluid pound on the rod string. This can drastically increase operating expenses and result in unplanned downtime.
The implementation of â€śIntellia IoTâ€ť equipment monitoring solution can help E&P companies to reduce the chances of unexpected component malfunction of their pumpjacks and also ensure safety and regulatory compliance.
Managing the efficiency of equipment and assets is an essential task for any industry. IoT offers the benefit of predictive analytics that allow industries to monitor the condition and performance of their assets and machines.
IoT based asset monitoring in the oil and gas industry lets companies extend the life of their expensive machines. It allows users to monitor different parameters associated with the working of machines from remote locations. This reduces the cost and time associated with random inspection & maintenance tasks and helps companies to enhance the overall equipment effectiveness (OEE) of their machines and assets.