In recent years, the benefits and opportunities presented by digitalization in the oil and gas industry have been the focus of much discussion. However, little has been written on the slow rate of adoption of digital solutions in the industry and some of the challenges facing operators. This paper aims to address these topics by outlining some of the primary barriers the industry faces as it assimilates into Industry 4.0—the current push toward automation and data integration in manufacturing.
Digitalization Value and Drivers
Over the past decade, Industry 4.0, the Internet of Things, and the wave of digital solutions they encompass have affected nearly every aspect of life. The declining cost of smart sensors and data storage, coupled with an increase in the reliability of communication networks and advances in data analytics, has driven a rapid pace of digital adoption across all industries.
Despite these advances, oil and gas operators have been slow to adopt new digital solutions.
