ABI Research: 5 challenges holding back IoT in the O&G industry  

ABI Research: 5 challenges holding back IoT in the O&G industry  

December 16, 2022 448 Views

FutureIoT 

Topics: Oil, Gas, AI 
Transcript Excerpt  
The name of eKt Interactive’s content and community manager is Doug Stetzer. He will talk about the petroleum and natural gas industry’s upstream sector. The topics covered here include exploration and production, as well as EMP drilling and unconventional methods. Drilling might be incredibly intricate or extremely simple. Wells can be deep and flat or completely vertical for miles. The hydrocarbons are efficiently brought to the surface and treated as necessary to make them marketable through production. Since drilling wells is necessary to locate oil, the EMP industry should presumably be called the EDP sector instead. 
Exploration is the process of physically digging the hole in the earth that will eventually yield a fruitful oil or gas well.  
On a well site, this task is normally carried out by rig contractors and service providers in the petroleum services industry. Production is the process of turning reserves into revenue by maximising hydrocarbon recovery from underground sources. 
The hydrocarbons are efficiently brought to the surface and treated as necessary to make them marketable through production. Fracking, also known as hydraulic fracturing, is the practice of injecting sand, chemicals, and water at extremely high pressures into wells. Deep waters off the coasts of Africa, South America, and the Gulf of Mexico continue to yield some of the biggest oil and gas discoveries. 
Fracking, also known as hydraulic fracturing, is the practice of injecting sand, chemicals, and water at extremely high pressures into wells. Deep waters off the coasts of Africa, South America, and the Gulf of Mexico continue to yield some of the biggest oil and gas discoveries. The upstream sector of the petroleum and gas industry is undoubtedly the most complex. Before a petroleum field becomes productive, hundreds of millions of dollars and several years are frequently spent due to the various risks and unknowns involved in the exploration process. In terms of production access, reserve access, price, taxation, and ever-stricter environmental restrictions, the upstream sector is heavily controlled. 
Every sector of the oil and gas industry is composed of independent businesses. The only goal of upstream businesses is the discovery and production of oil and gas. National oil corporations are business entities that are owned and run by governments all over the world. Upstream activities include oilfield services, which are a crucial but frequently misunderstood component. For discovering, drilling, finishing testing, producing, and sustaining crude oil and natural gas wells, they offer the specific tools, services, and technical know-how required. 

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