Digital Oil Fields: A Revolution in Offshore Oil Drilling

The oil and gas industry has started embracing technology to meet the increasing need to optimize production and maximize Return on Investment (ROI).
Hence, they are incorporating advanced technology like Artificial Intelligence (AI), robotics, seismic imaging, etc., in their organizational process.

The global digital oil field market is expected to grow to USD 30.4 billion by 2024. It’s anticipated that digital oil fields will revolutionize the offshore oil drilling. Let’s find out more! 

What are digital oil fields?

Digital oil fields incorporate modern technologies in business process management to automate operations and streamline the workflow to maximize productivity and improve efficiency.
Moreover, the digitalization helps cut down costs and reduces potential risks related to oil and gas operations that can impact worker safety and profitability of gas companies.

 

Digital Oil Fields Revolutionizing the Offshore Oil Drilling

The increasing need for hydrocarbon resources and maturing fields present numerous challenges to oil and gas companies.
It’s a complex information system that connects different components, including databases and networks, to develop and improve operations of offshore oil fields.
Digital oil fields establish reliable channels to enable a constant flow of information, which allows stakeholders to make timely business decisions.
The automation and digital technologies result in more efficient and smart planning that optimizes offshore oil drilling processes.  
Adopting digital technologies allow oil and gas companies to cut down their costs and increase their return on investment.
Big players in the market are using a combination of operational and information technology to improve their market share and achieving accelerated growth.

The Role of Modern Oil Rig Instrumentation

Operational and information technology goes hand to hand. Digital oil fields are redefining the offshore oil drilling process management, but the operational activities remain the same.
Oil and gas companies must be equipped with the latest oil rig instrumentation to ensure safe operations and derive accurate data that can be translated into meaningful insights.
Digital oil fields take a systematic approach to develop strategic plans that can improve drilling processes to minimize costs and generate higher ROI.
The reliable oil rig instrumentation, on the other hand, enables implementing the proposed drilling processes.

About Contact Instruments

Contact Instruments is a renowned manufacturer of drilling rig instrumentation. The company offers a wide range of high-quality drilling products, including mud pressure gauges, electronic gauges, weight indicator systems, load cells, and more. For more information about their products, call 780-955-8998 today.

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