What is the Wellsite of the Future?
Over the past few years, there has been a lot of talk in oil and gas about the wellsite of the future. Operators today wrestle with a spectrum of challenges from increasingly demanding applications to fluctuating market conditions. We tend to think about the wellsite of the future as a way to address these challenges – someday. But it’s not enough to say that technology will eventually make everything easier. Vague speculation does little to assist oil and gas operators with the issues they face in the here and now. What the industry needs are concrete solutions that can be implemented quickly and easily that are also capable of evolving with advances in technology over time.
The pandemic in 2020 has given everyone a lot to think about in terms of the future and what we want it to be going forward. The oil and gas industry has been through a lot of changes this past year, and operators can end up stuck in a tug-of-war between making the most of their investments today and planning for the long-term future. How do you find the balance between a rapid-growth mindset and cost-focused optimization in the midst of such turbulent market forces?
At Emerson, we take these big questions into account as we investigate what the wellsite of the future will encompass. What are our customers envisioning when we talk about digitalization and automation? And, most importantly, how do we take these concepts and make them real, not at some far-flung future date, but today. Now.
In my scope of responsibility supporting Oil and Gas in Emerson’s Measurement Solutions business, I think about the challenges our customers are facing as we launch into the future of the industry every day. I know that our customers are concerned with driving increased accuracy in their measurements, but they also need to find ways to do more with less. They want to make sure the investments they make have longevity while allowing them to optimize their operations in the face of market fundamentals that ebb and flow.
Becoming Leaders of Digital Transformation
The key to galvanizing the industry lies at the heart of digital transformation. These cutting-edge technologies provide significant advantages to operators looking to realize the full potential of their production. Pioneers who take an incremental investment approach to bring these state-of-the-art tools and technologies online will outperform their competition and have a more robust outlook for the future.
What are the hurdles our customers face to emerging as leaders of digital transformation in oil and gas? A recurring theme is a belief that the Industrial Internet of Things (IIoT) is out of reach or too far off for it to affect operators today. This couldn’t be further from the truth. Automation and wireless technologies are already here and implementable in many ways. Highly accurate, real-time measurement data, remote monitoring and analysis, and advanced software with data collection, visualization, and reporting features are all ready to provide unprecedented insight and control over your processes.
Adaptability for a World of Possibility
The beauty of digital transformation is that it can be done incrementally over time, but the benefits are immediate. Even taking small steps in the direction of remote monitoring can mean huge strides in operational efficiency. Everything we’ve built at Emerson is designed to be straightforward, easy to implement, and scalable for the future. This adaptability is essential to taking advantage of the benefits of digitalization without the worry that your investments will become irrelevant as technology evolves.
In a new series, we’ll be doing an in-depth examination of what the wellsite of the future truly looks like for our customers – both in the present day and in the near-future. We’ll be highlighting solutions for personnel, costs, safety, and regulatory compliance. Our hope is to engage our customers in a deeper conversation around the needs and evolution of the industry.
We know the industry is changing. We want our customers to be ahead of the curve as regulations shift, as skilled personnel are in shorter supply, and as the market experiences its ups and downs. The more you can be in the driver’s seat, the more ready you will be to take advantage of opportunities as they come.
And we’re here to support you every step of the way.
The journey to actualizing the wellsite of the future begins today. To learn more about our oil and gas solutions, please visit us at www.emerson.com/oilandgas.