It’s no secret that over recent years the resources industry has had its setbacks. The fall in iron-ore prices, the challenges faced by the oil and Liquid Natural Gas (LNG) sectors, not to mention the politics around climate change. And while most of the focus tends to be on what we’re extracting from the ground – it’s what’s taking place above ground which is having the biggest impact of all. I’m talking about the Internet of Things (IoT). In the next ten years the IoT will completely transform the landscape in the oil and gas industries. So the question is – are you ready?
What is the Internet of Things?
The Internet of Things (IoT) is part of the Fourth Industrial Revolution which is unfolding right now. And I’m not talking about the quirky things, such as your fridge reminding you to buy milk. I’m talking about the industrial inter-connectedness of people, systems and machines in ways we could never have imagined. IoT works by enabling everyday objects to be transformed into intelligent network devices capable of sending and receiving information. The Industrial Internet of Things (IIoT) takes it to the next level by allowing intelligent machines, robotics, electronic sensors, automation and big data to operate in a seamless electronic eco system using SCADA (supervisory control and data acquisition) systems. In the resources sector, the integration of IoT platforms into Business as Usual is accelerating productivity, eliminating silos and is delivering efficiencies throughout the supply chain.
Real time data
The eco system connectedness allows for real time monitoring and analysis which means that issues can be identified and managed as they happen. Complex datasets are made instantaneously available enabling pro-active rather than reactive decision making and which often negates the need for physical site visits.
Unscheduled downtime resulting in lost productivity, to the tune of millions of dollars, will feel like a bad memory. The fusion of IoT platforms with network sensors on equipment, autonomous vehicles and machinery eliminates unpredictability. Equipment sensors enable self-diagnosis along with automated alerts, flagging specific faults or equipment components in need of repair or replacement. The integrated systems have a domino effect on the supply chain meaning parts are automatically ordered, delivered and replaced seamlessly because of the predictive information flow. The need for on-site engineers or technicians is minimised because the system alerts, long before the event, telling you what is going on via your internet connection.
The systems automation in the IIoT leads to risk reduction to staff, plant and equipment – increasing operational safety, while at the same time decreasing costs. Major risks are significantly reduced due to the continuous information feedback into the networked environment in real time, in a seamless cycle of process optimisation.
Regardless of how remote the site or the assets within a site, IIoT technology enables remote asset identification, tagging, security and monitoring of power or battery life, as well as information on the useful life of the asset via real-time dashboards.
This article from Australian Mining demonstrates how the Internet of Things is revolutionising the mining industry from pit to port. The industrial landscape is shifting faster than we can imagine and the opportunities for exponential growth while reducing costs are mind-blowing.
Now, the critical part to this electronic eco super system, of course, is access. Nothing can happen without the ‘I’ in IoT – it’s the most important connection of all. The access bridge is the internet itself. The towers we build, the fibre we lay, the fixed wireless and microwave signals we enable, are the services we deliver to power you into tomorrow’s world.
At March IT, we move fast to get you connected to a reliable, high speed internet service with no dropouts and no downtime. That’s our guarantee – we are the connectivity experts.
But back to the question at the beginning. The fourth industrial revolution has started – are you ready? If you’re not sure or if you have concerns your existing internet connection is not up to the job – then call us.
We can help you prepare for tomorrow’s world today.