Many large oil and gas companies have begun adopting a number of digital solutions to cut costs through innovative new technologies within the past year. While the adoption of digitization arrived late in the oil and gas industry, it’s here to stay. In this article, Adam Ferrari explains how cloud computing has explicitly impacted the industry.
Value of Cloud Computing For Oil and Gas Companies
Changes in the oil and gas industry, new regulations, increased competition, cost-cutting needs, and improved efficiency have led companies to investigate new technologies to streamline production. Cloud computing is revolutionizing the oil and gas industry regarding oil and gas surveying and project management, though at times, it appears somewhat invisible. Cloud computing systems are ultra-simplified and make previously complicated tasks easy, altering the industry’s landscape.
Cloud computing allows oil and gas companies to simultaneously distribute large amounts of information through computer communication to a network of many users. It also provides access and retrieval of vast amounts of stored data, regardless of time and location. Because oil and gas companies handle vast chunks of data and many remote teams, cloud computing is especially beneficial in improving efficiency and cost-effectiveness.
Simplifying Processes of Land Management
Drilling data is enhanced through cloud computing. It allows for quality control, connectivity, and surveying all in real-time. Land surveyors can now use mobile devices to collect data and upload it to servers. Seismic crews utilize wireless recording stations to ensure quality control. What used to take a long time to transfer information is now taking place in seconds.
Data from the field is collected and uploaded faster than ever so that office workers can put the data to use right away. As land surveyors as cartographers collect information, individuals in an office in another state can immediately upload and distribute the findings. This also allows for easy storage of map information and may be integrated into other internal systems or used on-site by project managers.
Project managers can now access historical, geological, and drilling operations data relevant to the project at hand by merely logging on to a company’s cloud repository. This information can then be quickly passed on to relevant project stakeholders, leading to faster and more accurate decision-making for all parties involved. This has many benefits, including reducing negative impacts on communities, companies, and the environment, all while minimizing costs associated with delays, catastrophes, and unplanned interruptions. Although cloud computing reached the oil and gas industry later than other sectors of the economy, it now serves to revolutionize efficiency.
The ability to transfer data in real-time benefits project managers, oil and gas companies at large, and surrounding communities who may be affected by drilling procedures. Digital solutions have changed the way oil and gas processes take place.
About Adam Ferrari
Adam Ferrari is the founder of the mineral acquisitions company Ferrari Energy. He is a chemical engineer by degree and is an accomplished petroleum engineer by profession. He also has experience in the financial sector through his work at an investment banking firm. Under his leadership, his company has supported numerous charitable organizations including St. Jude Children’s Hospital, Freedom Service Dogs, Denver Rescue Mission, Coats for Colorado, and Next Steps of Chicago.