The importance of innovation in the oil & gas industry

The oil & gas industry is one of the most conservative when it comes to the implementation of innovations, although in the last few decades technological advances have caused a few important changes in exploration, development and production.

In spite of its usual conservatism, the industry has been gradually advancing technologically in order to improve its processes, as with the horizontal drilling and hydraulic fracturing techniques that made the commercialization of shale possible a little more than a decade ago.

For a few years now, we have been witnessing the depletion of fossil fuels such as oil and hydrocarbons, and a decline in their use. This is due in part to a lack of implementation of technology.

Today, technological innovation can be seen as fundamental to the recovery of the industry, since there are many technological options that can facilitate and improve processes in the industry.

New technologies and the oil & gas industry

Currently, innovations are focused on leveraging computing and technological resources that are focused on process safety, environmental management and fuel quality.

The oil industry provides large volumes of both structured (such as temperature and pressure) and unstructured data (like video recordings) that are not used, only saved. With the boom in big data, all that information can finally have a mission once it has been analyzed. Related technologies such as artificial intelligence are also involved in data analysis.

Mathematics, computing and other technologies together help recognize, for example, the oceanographic meteorological phenomena that impact the design and operation of all the sea-based production systems extracting hydrocarbons. These techniques and analyses contribute to the understanding of the oil field and increase the degree of reliability and extractability.

In addition, automation makes it possible to increase both the safety and efficiency of operations and also improves costs.

But technological advances not only facilitate processes, but also help to extract reserves that until a few years ago seemed too complex.

Technology for the planet

As history and the passage of time have shown us, innovation and technological advances have a great impact on industry and society. That is why, now that we have understood the importance of the environment, knowing that it is an asset we must protect, we have a duty more than ever to apply technologies whose first and most important objective is to preserve the environment and the planet.

Choosing sustainable and environmentally responsible methods that guarantee a prosperous world for all living beings, that use clean and renewable energies and facilitate these processes, is up to us.