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Oil and gas operators are poised toreap the benefits of advances infield devices and back-end analytics

IntroductionUsing Internet of Things and related technologies, operators in the oil and gas industry have an opportunity to extract substantial value from the data flowing from wellheads by digitizing them. Cost reduction leads the list of expected benefits of remote monitoring and analytics.

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ConclusionCompanies that embrace digitalization will position themselves to uncover value, without needing to initiate large capex projects to do so. The challenge will be making sure every development dollar spent generates real ROI. Given the rapid pace of innovation in the areas of analytics, cloud services and field devices, more options for wellhead digitalization are likely to emerge over the coming years.

—Read the full-text white paper here.To learn more about what ABB Ability™ Wellhead Manager can do for your operation, visit us here.

—Benefits of remote monitoring and analytics

Operators can make faster, more conclusive decisions about operations by gathering real-time data from the field and applying advanced analytics to it via cloud computing.

Analytics programs in the cloud can provide a detailed picture of activity across many wells, allowing operators to spot trends and take action.

Deploying cloud-based solutions can reduce capital expenses with subscription-based purchasing – so owners pay for only what service is used.

The value in digitalization happens when data is fed into analytic tools. For example, predictive maintenance programs can eliminate unnecessary travel by field technicians.

Software-based control, when combined with increased availability of operational data, allows actions to be taken based on historical trends rather than on real-time readings alone.