Industry 4.0 and the Energy Transition
/“Industry 4.0,” “the fourth industrial revolution,” or whatever you want to call it, the future is here. The oil and gas industry is entering a time of great change due to the energy transition.
From JPT
One area where this convergence is having a big impact is in how reservoirs are managed throughout their lifecycle. Technology is helping companies get more out of each reservoir, and efficiency and effectiveness of recovery continues to advance.
The transition from hydrocarbons, including CCUS, to geothermal energy and hydrogen will have a major impact on all reservoir subdisciplines, including reservoir management.
At the same time, the growing demand for hydrocarbons has reservoir owners working to recover as much as possible out of each one. This requires data analytics, artificial intelligence, and machine learning across all reservoir sub-disciplines to increase production and recovery and reduce the uncertainty, cost, and time spent on reservoir tasks.
Technology already being used to optimize reservoir operations include:
Artificial intelligence (AI)
Digital twins and reservoir simulations
Drone and robotic automation
Oil and gas companies can keep these technologies in reserve.
