Technology: Easing Pressures for Oil and Gas

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The Canadian oil and gas industry is transforming, giving rise to new opportunities in resource exploration and extraction. Companies are experiencing new and increased pressures to improve productivity and decrease costs. The adoption of technology is a critical strategy for facing these challenges, to remain fiscally strong and globally competitive. Companies who choose to wisely navigate industry developments by utilizing innovative technologies will fare best as the industry transforms.

According to Robert Barlow, CEO at WireIE, “The extraction of resources is becoming more complex, and technology that advances the industry’s ability to analyse operations in the field and increase productivity is becoming a mission critical requirement.” Oil and gas companies on the cutting-edge will be able to apply information technologies as a competitive differentiator to improve long-term production benefits. Solutions, such as those offered by WireIE, ensure that field assets are connected to the resource company’s global networks.

The demand to operate virtually anywhere, under any condition is an increasing requirement for oil and gas companies. WireIE solutions can assist in navigating collaborative workflow processes, creating efficiencies and increasing productivity.

According to a recent IDC Energy Insights webinar, expenses relating to connectivity-related technology ‘will increase by 30% between 2014 and 2016’. “By 2016, 70% of oil and gas companies will have invested in programs to evolve their IT networks to a 3rd Platform-driven architecture.” Optimizing technological capabilities of the business can drive results to all hard to reach operations across the field, allowing connected companies to remain at the forefront of the industry.

Technology investments are the key to innovation, and can help push oil and gas towards a successful future. WireIE’s CTO, George Kaichis, insists that ‘the importance of a safe and trusted network cannot be overstated with cyber threats in the oil and gas sector continually making headlines.’ “Companies need to protect themselves by using networks that are backed by high-level performance and security. Safeguarding network data and operations must be a top priority in order to avoid breach incurred financial losses.” Resource and extraction businesses should take advantage of solutions that can confidently deploy and support their mission critical applications using an infrastructure that operates with speed, security and reliability.

It’s a complex landscape and two facts remain: The global demand for energy will continue to rise, and oil and gas will continue to be the foreseeable dominant source. Investing in the digital oilfield will lead to optimum productivity, efficiency and safety, helping companies operating in Canadian oil to succeed during critical times.