OILFIELD IOT

Betaford IoT team are happy to implement our various proprietary products and services to help drive superior value for our clients and their portfolios.

These could impact the overall performance of their assets in a variety of ways.

Improved Operational Efficiency

The oil and gas industry will be facing losses in the next couple of years as the Baby Boomer-aged workers begin to retire and there are less people with industry expertise to assume the vacant roles. Big data analysis and remote visibility will help companies better manage their assets and use their findings to optimize production. Leveraging the capabilities of IoT can reduce troubleshooting time from days to minutes, which leaves more time to spend on other operational aspects of the business.

Revenue

The industry has a major impact on the global GDP. Industry-wide adoption of IoT could increase the global GDP by as much as 0.8 percent, or $816 billion in the next decade.

AT current commodity prices, we are helping to drive efficiencies and we encourage our clients to take advantage of our innovative technologies to derive financial gains of cost reduction and saved time as these will be invaluable as the industry becomes even more competitive.

The integration of connected devices in oil and gas will touch nearly every leg of the oil and gas supply chain from operations to customer engagement.

Real-Time Data

Big data is not new to the oil and gas industry: Data is crucial for the success of this industry, in particular.

Efficiency and accuracy are highly valued in the oil and gas industry almost more than any other industry.

Small improvements in efficiency can make a notable economic difference. Profit for our customers is dependent on prompt and accurate production data.

With IoT integration, the oil production can be captured in real-time through embedded sensors and the right automation of data communications systems, enables companies to gather information from assets anywhere and make informed decisions.

For example, our customers can adapt their drilling strategies after comparing real-time down-hole drilling data with data from production of nearby wells.

This level of visibility can help our clients improve production by 6% to 8%.

Additionally, the shift to data generation via the cloud allows for expansion of the number of possible transactions that can occur all the way down the supply chain.

The key here is that our clients will need well-built IoT platform in order to help them convert massive amounts of data into useful information. A big benefit for our clients is the ability of their pump off controllers that speak legacy protocols to participate in the Internet-of-Things and enjoy the benefits of modern web services.

Decreased Safety Risk

Safety is perhaps the largest concern for our customers, both internally and externally.

IoT can lessen risk taken by identifying potential issues before they become actual problems or safety hazards.

Remote troubleshooting means more constant and efficient regulation of oil rigs. Fully leveraged IoT integration also means less travel and potentially dangerous work for personnel.