The integration of new digital tools and systems in oil and gas industry operations offers an unparalleled opportunity for companies to understand - and even prevent - methane leaks.
All companies have the potential to explore digital projects. Integrating methane emissions management into digital projects is a win-win for the environment and company efficiency.
What is oilfield digitization?
New technology is connecting us and making our lives easier in many ways, and this extends to the way oil and gas is produced.
This can include using remote sensors on well sites, employing predictive analytics that can streamline decision making and forecast when maintenance is needed, and much more.
New research examines landscape
A new paper released in collaboration with Accenture finds that while some leading companies are starting to adopt practices such as machine learning, remote sensing, and more to address their methane emissions, the industry as a whole is just scratching the surface of what is possible.
Innovations such as automated asset management, predictive maintenance, and industrial internet of things (IIoT), have the potential to unlock tremendous value – up to $1.5 trillion.
The methane opportunity
The oil and gas industry is increasingly realizing that getting their methane emissions under control is key to their license to operate in an increasingly climate conscious world.
With oilfield digitization companies can not only more efficiently find and fix methane leaks, they can predict and even stop them before they happen and build better well sites to leak less from the start.
Not every company is going to automate their methane management practices immediately, but all can take steps to get their emissions under control and at the same time increase operational efficiency. This can range from using handheld sensors to detect emissions, employing drones for remote monitoring, and installing advanced sensors connected to integrated systems to predict leaks before they happen.