Big Development in Oil and Gas Industry as it gears up for adopting Robotics

  • According to Global Data, a leading data and Analytics company identified and made a thematic report on data generated from key oil and gas companies such as Shell, ExxonMobil, Chevron, BP, Gazprom, Repsol, Equinor, Total, Saudi Aramco, Sinopec and ADNOC, to have a considerable exposure to the robotics theme.
  • According to Global Data and its latest thematic report: ‘Robotics in Oil & Gas’ reveals that the Oil and Gas Industry is geared up to embrace upon the most recent disruptive technological advancement in the form of Robotics and Artificial Intelligence for driving the productivity and efficiency.

Thus, from the report generated by them, it is quite proven that Oil and Gas Industry is geared up for deployment of Robotic wing and AI across a wide range of applications in all three core segments the upstream, the midstream and the downstream sectors. Its primary motive is to drive productivity and efficiency amidst volatility in the crude prices globally.

However, it also revealed significant complex challenges, especially with regards to exploration and production of the hydrocarbons, which are urging the major oil producing companies globally, for exploring the world of complex engineered motor and robotic wings in working completely autonomously or in tandem with the operational heads.

The statistics from the report also stated that the global robotic industry is predicted to report a compounded annual growth rate of around 16 percentage from US$98.2bn in 2018 to US$277.8bn within 2025.

According to comments of Ravindra Puranik, Oil and Gas Analyst at Global Data, “the recent developments in robotics arena in all terrestrial, aerial and underwater configurations for performing the riskiest operations even at the peril of their lives undertaken by the field personnel.”

“As well as aging and old traditional infrastructure requires to necessitating regular inspection of these assets, and autonomous drones are being used due to their sheer number and issues related to accessibility.”

However, the two crucial challenges or the herculean task faced in deployment of robotics technology countered in any industries are the Finances or Cost and the Reliability. The advent and reach of Robotics technology are proving reasonably reliable in the enhancement of operational efficiency, especially in applications, about: –

•    Material Handling,

•    Preparation of the Land for drilling,

•    Remotest and life-risking operations managed by field operators.

However, there is still uncertainty prevailing whether the total cost of robotic technology ownership and drones have a positive effect on overall operational expenditure.

Puranik thereby concludes stating that “For addressing and overcoming this crucial concern, robotic technological providers as well off-field service providers are busy in devising newer business models, like the advanced prototype of robotic wing like Robotics-as-a-service (RaaS) to drive the deployment of these technologies in field operations and reduce uncertainty over the total cost of ownership of robots.”

The deployment of these robotic advancements will prove crucial in averting major disasters and loss of precious lives as well will take adequate care of all employability measures. It will also no doubt reduce the time taken for production of valuable oil and Natural Gas and also cost incurred, thereby surging overall productivity and efficiency of the firm.