INNOVATION & AUTOMATION

Technological advances have made a mark in the oil and gas industry in a particular way. As the industry pushed through a long period of low oil prices, costs had to be cut and efficiency measures had to be enforced. Research and development departments became the stars of several industry players as innovation became one of the key elements for companies to remain competitive. The increased reliance of the hydrocarbons industry on technology includes a new universe of sensors, smart devices and wireless equipment connected via the internet at an unprecedented speed, making processes safer and more reliable. But there is a dark side as well. As technology gets ever more sophisticated, companies must also protect against cyber threats that could disrupt operations.

This chapter offers insight into the innovation, automation and monitoring solutions springing up and how they are transforming the sector by offering optimization and cost-efficiency to companies that need to cut down on expenses. It also explores the steps companies are taking to step up cyber security.