The oil and gas industry’s risk management will continue to improve, as it embraces emerging technologies and big data analytics. By converting, analyzing, and reporting sensor data from IoT devices into FutureOn®’s FieldTwin™ platform, the industry is well poised to deliver massive results in improvements to the way risk is managed offshore, thereby increasing operational intelligence.

How so?

FieldTwin™ is a cloud-based platform technology that brings all project stakeholders and project data together into a collaborative digital workspace for rapid decision making. FieldTwin gives an operator the ability to create a managed digital ecosystem of assets as well as provide controlled access to any relevant content to any potential partner from early-phase bidding to operations.

Operational decisions determined through the IoT sensor data coming in from offshore equipment will become the norm to keep operations and workers safe by shutting down operations in case of abnormality and to prevent risk to workers and environmental disasters.

Currently, the oil and gas industry is at varying stages of big data and analytics adoption; but, by introducing analytics and more flexible production techniques such as these, the industry can boost productivity by as much as 30 percent, according to a big data technology strategist at Wipro.

The IoT sensors generate and report vast quantities of data every second, which makes it critical that the receiving platform can process the information quickly, a capability made possible by FieldAP™ a FieldTwin™ platform application.

The first step to a digital safety consciousness is to contact FutureOn to learn more about how FieldTwin™ can visualize different forms of project and expert data in context to enhance operations, while keeping workers and the environment safe from harm. Contact us to learn more about how you can see and do more.