Oil & Gas
While distributed oil and gas rigs have harnessed sensing technology for years, recent innovations in advanced sensing devices, and analytics from IoT and cloud analytics services, are enabling significantly more data-driven, predictive maintenance, resulting in preemptive equipment maintenance. According to a recent McKinsey study, by assuring the most consistent up-time, this alone can reduce costs by up to 27% , while also increasing energy efficiency by as much as 10%.
The same data enablement can also aid in downstream efficiency by improving supply chain logistics and adapting to consumer behavior, lowering costs by up to 10%, and increasing revenue by 3%.
All of this is only possible if data from sensing technologies is collected, organized, and harnessed in real-time from upstream production. BitBox enables this capability through its distributed Edge Platform, easily integrating into existing production-sensing systems, and allowing full portfolio analytics and data refinement, while also allowing for scalable deployment on and offshore.
** Source: McKinsey Research (https://www.mckinsey.com/industries/oil-and-gas/our-insights/the-next-frontier-for-digital-technologies-in-oil-and-gas)