Benefits of automation in oil and gas industry.
1. 50-60% reduction in data interpretation time and cost
Having data pipelines that keep feeding different back-end, AI-driven ERP systems, such as automated accounting software, can ramp up the speed at which data is exchanged, interpreted, and reported to analysts and shareholders.
2. Up to 70% reduction in engineering hours
Thanks to technologies such as DTO, engineers can create simulated replicas of the ideal processes before physically building them. This feature makes engineering wells, for instance, less wasteful and more efficient by bridging the gap between the theoretical groundwork and the actual structure.
3. 20-30% faster construction
The engineers have an easier time recognizing the parts of the project, such as pipelines, that are taking longer to construct than others, thanks to sensors linked to construction equipment that monitor the construction progress, and then send the information to the project engineers on visible dashboards.
The implication is that underperforming/faulty equipment, alongside behind-the-schedule projects, can be pinpointed and investigated, leading to quicker construction.
4. 3-5% increased production
A more lean and mean production capability will be the end consequence of the aforementioned aspects coming together, such as more effectively analyzing data or fixing any weak points – in well or pipeline construction, drilling, and oil extraction – as they appear.
5. 20-40% reduction in maintenance costs
A last benefit of automation is that maintenance costs are reduced thanks to predictive maintenance capability offered by real-time flow of information from the production silos onto the back office. Because engineers and technicians have the ability to tend to faulty equipment preemptively, the damage would be limited in surface and operational area, thus reducing the overall maintenance costs.
Source: aimultiple.com
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