29 Jan Four Ways Mobile Technology Affects Oil and Gas Industry
Oil and Gas Industries Benefited by Mobile Technologies
It isn’t exactly news that mobile technology is transforming our society but let us share some statistics. According to the Mobile Statistics Report, 2014-2018 released by technology market research firm, the Radicati Group, by the end of 2014, the number of worldwide mobile users, including both business and consumers, will exceed 5.6 billion. The report states that by the end of 2018, the number of worldwide mobile users is expected to increase to over 6.2 billion.
Roughly 84 percent of the world population will be using mobile technology by year-end 2018. This dramatic shift in technology is playing out in the marketplace with wide adoption of mobile technology and applications to provide solutions to business challenges.
The oil and gas industry is no exception, and is employing new mobile technologies that are helping to increase production, improve safety, reduce costs and safeguard environmental risks.
In this 2013 report issued by the McKinsey Global Institute, at least 80 percent of industries involved in oil, metal and mineral extraction could adopt mobile and internet technologies by 2025—with a potential economic impact that could exceed $100 billion annually.
Experts predict that $8 billion will be spent on apps developed for gas and mobile industry usage by 2015. So how is the oil and gas industry employing mobile technology today? Mobile technology works for both upstream and downstream processes and apps have been developed specifically to facilitate:
Mobile technology is employed in remote pipeline inspections, locations tracking, data capture, environmental assessments, monitoring refinery equipment, and many other areas. The technology helps workers to easily collect data, review and evaluate situations in real-time and take immediate corrective actions where needed.
Monitor in Real-time
Where data was once entered by hand and transmitted for evaluation, mobile apps allow real-time data capture, analysis and response. An example is the management of water resources in hydraulic fracturing (fracking). Mobile apps are being used to track water’s movement and monitor residual waste streams, offering both safety and environmental benefits.
Protect the Environment
Mobile technology is being used to help meet increased regulatory and monitoring requirements and create data archives, which then builds and stores long-term histories of compliance and environmental protection efforts.
With the advent of mobile technology, new workflows are developing around the efficiencies and automation in each application. With this comes cost savings as distance, time and effort duplication are reduced or eliminated.
A 2013 survey of oil and gas industry CIOs conducted by Oil and Gas IQ, showed mobile technology was ranked second of the top 10 priorities. Fifty-five percent of respondents indicated while they saw the value of employing a mobile strategy, only 16 percent had employed a mobility strategy.
However, according to a more recent survey conducted at Oil and Gas IQ, 71 percent of workers in the oil and gas sector are currently using mobile devices for work purposes, especially senior decision makers and those engaged in field operations and technical roles. This trend is projected to increase as Bring Your Own Device (BYOD) and integration of mobile technology continue their explosive growth.
With all the benefits of mobile technology integration it seems clear, the writing is already on the wall, or should we say, tablet?
*Thank you Chaione for an amazing Infographic!