It often seems that a lot of the innovation going on in the energy sector takes place in the renewable energy sector. Yet gas and oil are still being mined and helping to fuel the world, searching for its own ways to improve through the use of technology. From remote telemetry unit (RTU) implementation to embracing digital technologies having an impact on other sectors, there are some of the new technologies changing the hydrocarbon industry.
Some of the biggest news stories surrounding the hydrocarbon industry in September 2018 included a range of mergers. For example, Canada-based investment company Brookfield Asset Management was set to acquire the East-West Pipeline (EWPL) system that operates a 1,400km carrier pipeline within India. While other companies were looking to sell some of their assets due to backlashes about environmental and political issues. Pipeline expansions are still ongoing, but technologies to address these green concerns could help reduce them and improve the industry.
The safety of workers on offshore oil rigs has always been of great importance, given the dangerous conditions of the work. Technology is helping to make this a lot better, and one of the latest introductions is a modern escape chute. Rather than just a metal ladder, this is a fire-retardant chute that has a maximum height of 266 feet and can evacuate 159 people in just ten minutes. Plus, it includes integrated lifeboats for a quick escape, offering a much safer and faster escape than traditional rigs.
Smart Oilfield and Drilling
Improving productivity is always the goal of implementing new technologies, and there are various devices and ideas to do this. Smart drilling combines design, analysis of big data and equipment selection to create a smooth process, with a focus on intelligence. Real-time data plays a big part in smart oilfields too, connecting systems through principles similar to the Internet of Things (IoT). RTUs that can securely measure and collect data in the harshest of environments are helping make this a reality.
It’s already proved a big hit in the world of cryptocurrency, and now blockchain is slowly being incorporated with the hydrocarbon industry. This offers a huge opportunity to reduce the risk of fraud and human error that can have a negative effect on the operation of oil rigs. From scheduling equipment to controlling exploration records, as blockchain offers an unalterable ledger, it can be highly reliable.
The hydrocarbon industry is utilizing technology in a range of ways to make its processes and systems a lot more efficient.