Codovia – For IoT, AI and Industrial Enterprise Solutionshttps://codovia.com/ Codovia - For IoT, AI and Industrial Enterprise SolutionsTue, 15 Sep 2020 11:03:34 +0000en-US hourly 1 https://wordpress.org/?v=6.9.4Top oil and gas investors in the world.https://codovia.com/oil-gas/investors https://codovia.com/oil-gas/investors#respondTue, 15 Sep 2020 11:03:34 +0000https://codovia.com/?p=2369Oil and gas investors are those ones who are under the telescope when it comes to the market or the business field, due to the importance of the industry. This industry is the new global industry that will conquer the whole world in the upcoming few years. So before talking about the world top investors, […]

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]]>Oil and gas investors are those ones who are under the telescope when it comes to the market

or the business field, due to the importance of the industry.

This industry is the new global industry that will conquer the whole world in the upcoming few years.

So before talking about the world top investors, let us shed some light on the investment itself

and how it goes in this field.

Investing in the oil and gas field, how it goes?

A few years ago and till now, the petroleum industry is having a sparkling leadership in the industrial market,

and there is not even one single sign that it will not lead the future as well.

Regardless of investing in the field itself whether in the exploration or the production, you as an investor

can use the” natural gas, cruel oil, diesel fuel, or the gasoline” because these themselves are being

used in too many aspects such as cooking energy, turning the fuel into electricity, or producing

the chemical fertilizers.

Types of investments

1- Exploration

Companies who play a part in this field tend to buy or rent lands in order to use it in drilling and

if they succeeded in striking the oil, the investor can gain 10 times over what they had paid, but

if it didn’t go well. they will lose everything, so investing in these companies is very risky.

2-Developing

Companies tend to drill near places with proven reserves.

3-Services and support

The companies that work in this sector offer so many supporting services in the oil ad gas industry.

Some of these services include” transportation, shipping and logistics companies,

pipeline companies, construction, and rigging companies, and etc.”

How to invest?

You can invest in this field into many and several aspects and ways.

1-Small stocks and limited partnerships

If you are someone who wants to have a bigger and more effective role in a small company, you can think

about making a food chain in the oil and gas industry as a small stock or a limited partnership with someone and to be only restricted on oil and gas.

This kind of investment is more specialized, and if your business wouldn’t be traded you will need someone who is

expert in these kinds of services.

2-Futures Contracts

You can buy futures contracts to the oil and gas derivatives, this can be so risky because if these

contracts are expired then they will be totally worthless.

3-Mutual Funds

You can buy some shares in an oil and gas mutual funds, that will help you to get exposure to this

market without a direct risk when it comes to the spot prices and also without tying and risking too much

in only one company.

The advantages and disadvantages of oil and gas investments

The advantages

Tax Advantages

Oil and gas investment has got some tax advantages.

The IRS allows some companies to reduce the depletion, which is something very similar to the

depreciation thing when it comes to the real state.

If you buy a membership in a limited partnership, this will put you in a very important zone.

Diversification

Through history, Oil and gas investments have offered a very huge and successful ” diversifier against the overall economy”.

While the prices of gas go up, the economy tends to slow down a little bit which may cause

stumbling in the stocks and funds.

But on the other hands, when the prices of oil and gas together go up, the stocks tend

to rise with them as well.

An extra benefit to investing in oil and gas, it can help your portfolio against the sudden slowdowns

which may happen due to oil shocks.

Profit Potential

This is about investing in a small company.

Small company investors can gain more because the single well can generate more if the drillers produce

oil.

The disadvantages

Volatility

Investing in the oil and gas field can be very risky because of the sudden and wild changes that happen

to the prices.

It is also riskier for those who invest in small companies and who got their money in exploratory projects.

Commissions

This is for limited partnership investors who obviously will have to pay a commission to a broker.

These commissions are much more than any other broker’s commissions.

And as an investor, you must know that what you pay for a broker won’t get any work done for you.

Liquidity

It is easy to find investors for big companies and on the other hand, you will struggle to find

someone who buys shares in a small company.

In some cases and especially when it comes to limited partnerships, you will ask for a direct

redeem for your interest, so to avoid getting involved in this kind of cases you have to make sure that

you don’t get your money tied up.

Top oil and gas investors

ArcLight: It was established in 2001, it had nearly invested more than 22 billion dollars in 108 transactions since inception.

This company is based in Boston.

BlueRock Energy Partners: It was founded more than 25 years ago with 150 transactions.

This company targets those producers who work in the low and middle oil markets seeking for

some developments plans

Denham Capital: It was established in 2004.

This company invests in 3 sectors which are” oil and gas, mining, and international power”

Lime Rock Management: It was founded in 1998 and it is an investment partner in the private shares

which only focuses on the upstream in oil and gas.

PetroCap: It is a private investment company that was founded in 1992.

PetroCap focuses on investing as a partner in the upstream projects.

It also has a team of professional members in Geology, lands, and finance.

White Deer Energy: This private company invests in energy and industrial services.

White Deer provides capital to those companies with strong management and the ability to grow.

It was founded in 2008 and since then it ”has raised capital in excess of $2.7 billion”.

Scout Energy Partners: This also a private investment company that focuses on the upstream in

oil and gas projects.

”Scout has completed over 50 acquisitions with over $1.5 billion in acquisition value since establishing its first institutional fund in 2011”.

The government’s funds to support oil and gas investors

The governments are really making efforts in order to support the whole

oil and gas industry and to encourage businessmen to invest in this field.

The government allows oil and gas companies to deduct taxes during the operation of the well’s development.

Then comes the direct spending, ”such as the $229 million Inland Waters Transport for Petroleum Subsidy. Usually, the federal government taxes shipping company using waterways a fee proportionate to the tonnage of what they ship. Not so with oil companies”.

Next, we have the royalty relief subsidies, its a measure where il and gas companies put some exemptions

with the help of some law-makers in order to pay less money on the extracted oil and gas.

The conclusion

The oil and gas market is becoming one of the biggest in the industrial field.

There are so many sectors in which a businessman can invest in this field and the most famous one

is the upstream sector.

There is more than one type of investment.

And just like any other business, the oil and gas industry has its own pros and cons.

Last but not least we can’t ignore the huge and effective role of the governments in order to develop and support

this industry.

]]>https://codovia.com/oil-gas/investors/feed0The oil and gas industry between the past and the presenthttps://codovia.com/oil-gas/oil-gas-industry https://codovia.com/oil-gas/oil-gas-industry#respondSun, 08 Dec 2019 13:36:54 +0000https://codovia.com/?p=1949What is the first thing that comes to your mind when you hear about the oil and gas industry? The oil and gas industry was the most powerful business and it is still in so many countries. It is the main source of foreign income due to the enormous investments in it. So before getting […]

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]]>What is the first thing that comes to your mind when you hear about the oil and gas industry?

The oil and gas industry was the most powerful business and it is still in so many countries.

It is the main source of foreign income due to the enormous investments in it.

So before getting to know and to study every section of this enormous industry, I have to help you in shedding some light on so many important tips which will absolutely make you change your strategy.

How Oil and gas were formed?

Before getting into the industry itself we must know about the origin of the products that form the industry.

The beginning of this formation was millions of years ago.

Oil and gas were just microscopic fishes, trees, or maybe they were dinosaurs’ fossils that lived many years ago,

They were absorbing their energy from the sun.

After they died and being buried deeper and deeper, the heat and pressure started to rise.

The amount of those two elements decided if the produced material is going to be oil or gas.

What is the oil and gas industry?

The oil industry is also known as the petroleum industry.

If we are going to define it in a simple way, then it is that specific activity that produces oil.

This industry plays an important role and it is considered as a major source of income in the global economy.

And like any other industry, it has it is own history which tells so many about the evolution of it.

The history of the oil industry

When it comes to the history of any industry, you have to pay attention because it is like a guide for you to make good plans and successful

strategies.

We can divide the history of the petroleum industry into two eras( The very early history and modern history)

The early history

It all started back in the 600 B.C when the first oil was actually discovered and extracted out from the ground.

It was discovered by the chinses.

Later, it was transported using bamboo poles.

And in 1859 the first oil company was founded by Edwin Drake in Pennsylvania, which led the united states to the

oil rush industry.

And later on in the 19 century and early of the 20 century, it was like a remarkable period in this industry.

It was the start point of creation to the most well-know oil companies that still take a part in the market until today.

The modern history

It starts in the late 20 century when the market of oi industry turned from the influencer countries

such as( America and Europe) to the oil-producing countries such as( Iraq, Kuwait, Saudi Arabia,

and etc).

Those countries formatted an organization which is called OPEC” Organization of the Petroleum Exporting”.

What is the gas industry history?

In early 1626 the natural gas was discovered in the united states of America by french explorers who identified

the gases which were around Lake Erie.

In 1821, the first well was specially designed to take out the gas which was found in New York and it was the first gas company.

What are the sectors of the oil and gas industry?

This energy industry has got three main sectors which are( Upstream, midstream and downstream).

The upstream

The upstream sector contains two sections and they are the exploration and production.

This stage of the industry is all about those activities which are happening in the field such as( Drilling and tracking) and it also includes those several environmental kinds of research.

What are exploration and production?

Exploration: in this stage, you search for hydrocarbons under the ground to locate the shale formations which

contain oil and gas.

This segment has too many methods and one of them involves seismology, which is a process where enormous

vibrations are being caused through those machines which are on the earth’s surface.

Production: this stage is about separating the liquid hydrocarbons that are being extracted from underground

from the non-saleable motifs.

The natural gas is also being processed while the oil is getting delivered to the refinery before being sold.

The upstream sector also cares wells, where to find oil and gas, and how far is to drill the wells.

In those two stages, there are two main ways to find oi and gas which are onshore and offshore

Onshore means on the land or the ground and you get to extract the oil and gas by ground equipment.

And the offshore means on the water and you get to extract the oil and gas by marine equipment.

The upstream sector has four major Characteristics which are:

1- The high risk of carries.

2- Technology.

3- It gives a high return.

4- It is easily affected by politics.

The midstream

The second sector of the three major stages of the oil and gas industry.

The midstream activities refer to processing, transporting, storing and the marketing of oil and gas.

Processing: it starts right on time with offshore or onshore oil and gas at the production level.

It is the step where oil and gas are being processed into marketable products,

Delivering or transporting: after the processing level, oil and gas are being delivered.

The liquids whether they are crude or refined start off their journey in a web that contains small pipelines,

once they are gathered together they get directly transported in tankers.

Storing: we divide this level into 2 sections, storing the crude oil and storing the natural gas.

When it comes to storing the crude oil it includes refinery tanks and holding them to get the liquids into the pipelines.

But it is completely different when it comes to the natural gas, due to its high pressure it is stored in underground

reservoirs until being ready to be transported to the market.

The downstream

The final sector in the supply chain of gas and oil and it includes 3 major Characteristics,

and they are( Oil Refining, Trading, and product marketing).

The downstream sector as it is shown, it is more related to business and how you can market the products.

How the industry of oil and gas works?

A big industry like this must have an epic plan to get all of this work done.

The petroleum industry is the most influence in the world.

It has two major sections, the streaming( upstream, midstream, and downstream) and the drilling.

And since we already talked about the first section, so let us shed some light on the drilling part.

What is drilling?

It is a process where a hole is made by a cutting tool in a solid material.

It is also can be a multi- cutting point in the solid material.

When it comes to rock’s drilling, the hole isn’t made by a circular cutting tool but instead, you usually have to hammer a hole a little bit into the hole with very fast movements.

In very rare cases, specifically shaped cutting tools are being used to make holes.

There are so many types of drilling so let me discuss with you a few of them.

The spot drilling: when you drill a hole which will act as a guide to reach your last hole, more like a map for you.

Gun drilling: This is mainly used to dig smaller holes.

And the bits in this type of drilling are self-centered which allows the concept of deep holes.

Center drilling: This is mainly used to drill countersink center holes.

These holes are meant to be in the center in order to turn and grind.

Conventional Drilling: it is the traditional type of drilling where the holes are being drilled directly from the

surface to the pay zone.

Slant Drilling: it is where you have to drill from a specific angle.

Is drilling only about the metal?

The answer to this question is absolutely no.

There is wood drilling which is so much easier and faster.

And there is also drilling in diamonds, gold, plastic, and etc.

How to be an expert planner in the petroleum industry?

Every industry needs a good plan in the market.

The oil and gas industry isn’t only about scientific facts but it also needs some strategic tips.

1- Know the history

Before entering any field in the market you need to have knowledge about its history and how it was developed.

You need to know the major players in history and who controlled the whole industry in the past.

2- Understanding

Understanding your field’s main characteristics is a must.

You need to understand the nature of the environment, the nature and the ability of the equipment that you are using.

3- Identify your methods

Knowing your industry’s methods is so important before setting up your plan.

You need to make a well- studied research about every method and study every section of it.

You also need to know about transporting and what is best for you produced material.

4- Market the industry

This is the most important part of the plan’s process.

Whether your company is big or small, the marketing step is a must.

It is the stage where you introduce your business and try to adapt to the market.

Marketing the petroleum industry

Marketing this kind of industry is so different from any other industry because of its nature.

You can’t depend on running campaigns just like any other company in a different field.

But we can gist the marketing strategy in 3 main steps.

1- Your website

Working and improving your website is a major step in your marketing strategy.

Your website is the first step that your business will be familiar with the people.

Having the same website for so many years require developing your website, especially when it comes to mobile designs.

According to Oil & Gas IQ,

” 71% of workers use mobile devices for work purposes, especially those in field operations, technical roles, and senior decision-makers”

2- Invest in SEO and content writing

This is the only step in which your website has to perform its best to bring traffic to your site.

As an owner of any company in any field, you seek to be the leader.

And to increase your website’s SEO you have to make a good research on the most suitable keywords

which are related to your field and the topics people care about them the most.

Using these keywords to write useful articles about your company and about the whole industry is also

another tip to increase your SEO.

You have to be up to date when it comes to the field’s news, people need to hear from you first.

3- Use social media

By now, social media is the fastest way to promote and market for your business.

Social media is the perfect place where your relationship with your customers and other companies start.

Choosing the right platform for your business helps you a lot in the marketing process.

The importance of oil and gas

This industry has a major impact on the world’s economy is a direct and indirect way.

Also, It is the main source of energy in the world.

Oil and gas are also being used in building and in producing some medicine which is important for your health.

The products which are produced from oil are being used in plastic and chemicals.

Let us not forget about the role of gas in producing electricity and to produce the fertilizers.

Did the oil and gas industry make an impact on the environment?

Yes, Because of the regular usage of oil and gas over the years it made a major impact on the environment

such as( Air pollution, water pollution, and climate change).

The conclusion

This industry is not new to the world.

Oil and gas were formed millions of years ago naturally.

Appreciating the history of the oil and the gas is so important.

This industry has three major sections and there are so many companies that work in the three sections altogether.

The way this industry work takes 2 steps which are the streaming and the drilling.

Marketing is a must step to promote your company and organic marketing, in my opinion, works better than the paid campaigns.

Developing your website plays a vital role in your marketing plan.

This industry has so many bad effects on the environment.

Last but not least, the bigger the industry means bigger challenges, so you need to be prepared for everything

which will face you in the future.

]]>https://codovia.com/oil-gas/oil-gas-industry/feed0Upstream and downstream in oil and gas from A to Zhttps://codovia.com/oil-gas/upstream-downstream-oil-gas https://codovia.com/oil-gas/upstream-downstream-oil-gas#respondSat, 07 Dec 2019 15:40:20 +0000https://codovia.com/?p=2041You may know enough details about the upstream, but there is less knowledge when it comes to the downstream segment of the petroleum industry. Every industry has its own sections and manufacturing system. When it comes to a huge industry like oilfields, every single detail about its sectors whether its small or big mat. So […]

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]]>You may know enough details about the upstream, but there is less knowledge when it comes to the downstream segment of the petroleum industry.

Every industry has its own sections and manufacturing system.

When it comes to a huge industry like oilfields, every single detail about its sectors whether its small or big mat.

So before answering the most frequently asked questions about these two sectors, let us first know the definitions, the history, and the very first beginning of each sector.

The Upstream segment

Before getting into the actual upstream segment, let us define the word upstream itself.

The word upstream means the opposite direction where a stream comes up near to the source.

This is the definition of the word, but we are going to define the expression itself which is that every sector in any industry is being set up according to the business’s structure and the organized functions.

The upstream sector is one of the three main sectors in the oil and gas industry which are the upstream, midstream and downstream.

When it comes to business, the upstream sector is known as the sector of exploration and production.

The upstream stage is all around the wells and where you can locate them, how far and how deep you need to drill for them, and it is also about how to design and manage them.

The history of the upstream stage

The early start of this stage was in 1860 in Italy, when it was the drilling for the first oil well.

In Milan, Europe’s biggest gas field was found and marked the starting point of the oil and gas industry in Italy and

the whole of Europe.

The stages of the upstream

Every sector requires some organized and well-studied stages and movements for the process.

The upstream sector requires three stages to perform its role.

They are exploration, drilling, and production.

So let me shed some light on those steps one by one.

Exploration

This is where it all starts.

The explorations search for the wells trying to locate them.

They also determined to figure out the best ways to have access to those wells.

This stage also involves deciding the drilling would be onshore or offshore.

And this point leads us directly to the second stage.

Drilling

What is drilling?

Actually, this is one of the most common and frequently asked questions when it comes to this industry.

Drilling is a tool or a specific machine that is specially designed with rotating cutting parts in order to make wells.

In other words, drilling is a sort of an activity in which a hole is being bored using the rotating cutting machine in order to facilitate the access to the geologic sources in which the oil and gas are sorted in them.

And as it was mentioned that there are two kinds of drilling,

the onshore and the offshore drilling.

Onshore drilling: means drilling holes under the earth’s surface.

Offshore drilling: means drilling holes under the water.

And both types of drilling have their advantages and we use them to extract the oil and gas from underground to the surface.

So deciding whether you want to go along with the onshore or offshore requires good research on the benefits of each type, and later you will be able to take a decision on which type is good for your company, or you will just put yourself in a win-win situation and be a mid-shore company which will the benefits of both types.

The drilling takes us to the third stage which is also considered as the second section of the whole upstream sector.

The Production

Understanding this stage is the main key to your business’s success.

In this stage, you must focus on creating the real product, by extracting oil and gas from the liquid.

What is the upstream pressure design?

If you are an expert then the answer to this question must have been similar to you.

But for someone who is new to this field, you have to know that the pressure in the upstream in the oil and gas sector includes those main processing lines, those vapor spaces found in the tanks, and last but not least those lines

which supports fuel.

Handling this mission of managing and controlling the pressure of upstream is a huge part of the strategy of the

industry itself.

The downstream segment

After knowing the definition of the upstream, it becomes so much easier to figure what does the downstream means.

As a definition, in general, it means the same way or the same direction the stream comes up.

But if we are going to mention the expression itself in this field, then it means the size of the petroleum industry which is responsible for the refining and distribution of the products.

The downstream industry supports producing so many products such as gasoline, diesel, plastic, and etc.

Like the upstream sector, the downstream industry has sections and stages to complete its process too.

They are the distribution, the selling outlets, and production plants.

The distribution in the downstream

Distribution means getting the products from the company and transfer it to the consumers through the selling outlets.

By 2019 you must ask yourself a very important question which is, will technology help in this stage?

You can easily predict the answer which is going to be absolutely yes.

Technology can make you easily know the exhaustion at customers’ places.

You will be able to set up a better strategy for your delivering plan.

What is the value chain in upstream and downstream?

The upstream

In order to grow in this industry, you have to know the value of every sector in it.

The upstream value is all about your suppliers and their products.

And it also gives due care about environmental performance.

This helps you to find the perfect opportunities to add more value to you and your suppliers, in addition to reducing the risks in the market.

Caring about your product design will improve the upstream value chain.

The downstream

This is all about what happens after the products leave your company.

Yes, the actual work ends at this moment, but your social work starts.

Every business faces some challenges at any stage of the process, but the most important challenge and risk that you have to avoid or find a solution for it is the greenwash.

How upstream and downstream affect the environment?

It is a well-known fact that the oil and gas industry has a major impact on the environment.

This industry affects the environment in several aspects and that is what we are going to discuss.

1- The Air impact

In the stages of exploration and production which are included in the upstream stages, the air would be deeply affected because of the drilling and the equipment which are being used to prepare the land.

Some of the vapors generated by the drilling operations are reacting with the atmosphere producing acid rain which is very dangerous to human health.

When it comes to natural gas processing, there is less impact on the air.

But there are some factories which are responsible for the natural gas processing contain some poisonous flammable gases and the substances emitted from these operation processes cause air pollution.

2- Water pollution

Upstream and downstream in oil and gas also affect the water quality.

This happens in many unpredictable ways.

Like the mud which was a result of the drilling operation around the site could cause some pollution to the body water.

And it is very important to manage this in order not to waste a very important layer that is able to prevent seeping the mud to the body water.

Producing water which a result of the well’s water and still contain some of the crude oil and natural gas, there are some chemicals which are being used in order to separate this water from the crude oil and gas, and that may cause some issues for human health.

And let us not forget about the most and the essential part of the water pollution which is the oil spill.

It usually happens during the transportation stage due to a leakage from the pipe.

3- The social impact

This kind of affection is all about understanding the social and the job opportunities which can be easily get affected by the activities happening in this essential stage.

How to avoid environmental pollution?

Each problem and challenge has got the solutions which are designed especially for it.

Some policies must be set up in order to reduce pollution.

You have to do some research on every kind of pollution which is caused by the oil and gas industry, to know the amount of the damage, you must measure the leak which is happening in order to find the perfect solutions.

Here comes the main game maker of any industry, which is the technology.

Technology makes everything much easier, it helps you to collect more data, to set more well-studied plans in order to develop the industry.

Last but not least you have to make sure that your factory is a little bit far from the city and the places which are crowded with people in order to provide safety for them when it comes to air and water.

Upstream and downstream oil and gas companies

The companies in this field are divided into three different categories which refer to the three sectors of the industry.

The upstream, the midstream, and the downstream.

Some companies tend to combine two kinds or maybe three of the sectors.

The upstream sector is managed by the companies which are doing all the identifying, producing raw materials,

and the extracting operation.

On the other side, we have the downstream sector which is managed by those companies which have direct communication with the consumers because it is more about distribution and selling the products.

And the world’s most famous oil companies are located in the USA, according to US Energy Information Association,

The U.S. alone consumed an average of 20.5 million barrels of petroleum a day in 2018. This amounts to around 7.5 billion barrels over the year and approximately 22% of total world petroleum consumption

Marketing for upstream and downstream in the oil and gas industry

Like any other business, the upstream and downstream in oil and gas companies need to market their brand and the products.

To have a marketing department in your company is a very important step towards your business success.

Marketing is the only department that is responsible for your business’s image in front of consumers.

Also, it has the responsibility of two main missions and they are branding and your products’ quality.

But when it is about marketing the most essential two sectors of the oil and gas industry,

it is a little bit different from marketing for the whole industry itself.

Marketing for the oil and gas industry

Branding: your brand is the only way that makes you familiar to people.

And the role of marketing is making sure that your brand will be represented in a suitable way for your business

and for your company.

The products’ quality: your products are what you offer to your consumers.

And the high-quality products are part and parcel of your company’s image.

So the marketing role in this part is advising the researchers and whoever is responsible for the products of what

the consumers actually need and expect from your brand.

Marketing for upstream and downstream sectors

Yes, they are two different sectors with completely different activities, but they are equally important when it comes to marketing.

Upstream: simply, it is responsible for setting up plans and well-studied strategies to offer a long-term market for the company.

Also, it is responsible for predicting the image of the market and what it has to offer for your company and what your consumers will want from your brand to the next level.

So your marketing team has to keep it up with the latest news and trends about the industry.

Downstream: it is all about the sales and the after-sales services.

Every simple idea your sales team comes up with it will absolutely benefit the downstream strategy.

Your team must focus on the campaigns and the surveys, to know what people actually think about your brand

and how to develop it.

The conclusion

Upstream and downstream are the main two sectors and the body of the oil and gas industry.

Upstream in oil and gas is also known for the exploration and production sector and it contains three essential activities which they are the exploration, drilling, and production.

The downstream is all about the products you get after extracting oil and gas.

The value chain in the upstream is more about the suppliers and environmental performance.

But the downstream value is about your products.

You have to know that upstream and downstream have an effect on the environment is so many aspects but also, there are so many solutions to avoid this problem.

Companies in this field are various and different, but some companies work in these two sectors together.

Marketing for the upstream and downstream is a part of marketing for your business and company.

Last but not least, the oil and gas industry is a big and important matter that requires being updated about every single detail in the market and needs you to count every single move or step you are taking in order to keep yourself in the industry’s race.

]]>https://codovia.com/oil-gas/upstream-downstream-oil-gas/feed0What is IOT? And How can be applied in our real life?https://codovia.com/technology/iot-applied-real-life https://codovia.com/technology/iot-applied-real-life#respondFri, 06 Dec 2019 15:41:45 +0000https://codovia.com/?p=2104Did you hear before about IoT? Well, if your answer is yes, that is means you are curious about the upcoming technology. If your answer is no, then you will be familiar with this term within the coming years. Within this decade, technology amazes us with lots of surprises. One of its recent surprises is […]

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]]>Did you hear before about IoT?

Well, if your answer is yes, that is means you are curious about the upcoming technology.

If your answer is no, then you will be familiar with this term within the coming years.

Within this decade, technology amazes us with lots of surprises.

One of its recent surprises is IoT or the “Internet of things”.

IoT is about using the power of the internet beyond computers and other devices to the whole things, processes, and environment.

In this article, we will discuss the meaning of the internet of things, its importance and how it can be applied and on which field.

What is the internet of things “IoT”?

As a technical explanation, you can define the internet of things as the following:

The internet of things, or IoT, is a system of interrelated computing devices, mechanical and digital machines, objects, animals or people that are provided with unique identifiers (UIDs) and the ability to transfer data over a network without requiring human-to-human or human-to-computer interaction. “ Margaret Rouse”

To be more simplified, you might read this article through your computer, smartphone or even if using your tablet.

To be able to read the article, your device must be connected to the internet.

This internet connection gives you lots of benefits such as, you can get any information that you want.

Also, you download your favorite book or the music that you prefer.

You can say that, the internet of things means taking all the things in the world and connecting them to the internet.” Calum McClelland”

These things collect your data or information and act on them to make your life easier.

For example, it can offer smart devices to automate homes.

What makes IoT that important, is that it become an essential tool for business.

IoT provides businesses with a real-time look into how their companies’ systems really work.

Delivering insights into everything from the performance of machines to supply chain and logistics operations.” Calum McClelland”

Why IoT is that important?

The internet of things makes people’s life easier.

They can get complete control using their smartphones.

In the near future, you can have an automated home and control every single function even if you are out of your home.

Many researchers stated that consumers will use IoT technology in making restaurant reservations, monitoring their overall progress and mental health, and know their children’s progress in their schools.

On the business side, the internet of things has a deep impact.

It enables many companies to automates all processes and reduce costs.

Businesses can use IoT to monitor supply chains, track customers’ spending habits as well collect their feedback, monitor and maintain inventory levels, and engage in predictive maintenance of their machines and devices. “John Terra”

IoT Applications

You do not need to wait and see the impact of IoT on the future.

The internet of things is already applied in various numbers of fields.

IoT makes various attractive options for consumers and businesses.

It started now with business sectors in many fields such as manufacturing, retail, energy, and industrial IoT.

It will continue with the consumers and will be essential for your life.

IoT is here to make your life easier.

Let’s discuss and explore some sectors that IoT can be applied.

Smart Home

One of the greatest applications of the internet of things on the consumer scale is a smart home.

You can control all your home using your phone or any device.

If you have a smart home, that is equipped with appliances lights and electronic devices, you can control it remotely using your smartphone.

Not only controlling your house but also smart building can reduce energy costs by sensors that indicate how many people in the room.

These sensors can adjust the temperature of the room automatically to make it comfortable for you.

For example, it can turn on the air conditioner if sensors detect that the room is full and there is a need for air.

Also, it can turn it off when everyone is gone from the room.

Smart city

Once IoT applied to houses, it can be applied to a bigger scale, cities.

Using IoT technologies can manage any city from daily activities ( water distribution or traffic management) to global activities ( waste management and environment monitoring).

Industrial IoT

The most important usage for IoT is being involved in the Business and industry sectors.

Industrial IoT ( IIoT), is the use of IoT technologies in manufacturing.

Also, IIoT can be defined as the following:

The industrial internet of things ( IIoT) refers to interconnected sensors, instruments, and other devices networked together with computers’ industrial applications, including manufacturing and energy management.

This connectivity allows for data collection, exchange, and analysis, potentially facilitating improvements in productivity and efficiency as well as other economic benefits. “Julia Weijs”

The main use of IIoT is connecting machines and devices in industries such as power generations, oil and gas, and healthcare.

It reduces many threaten such as unplanned system failure or life-threatening situations.

Also, the industrial internet of things helps businesses to save money and time.

You can say that including IIoT technologies can enhance employees’ productivity, make better decisions based on available data, and of course, generate more revenue.

Smart Retail

The internet of things provides lots of solutions for the retail field.

Using collected data and information can improve store operations, increase the number of purchases, and enable inventory management.

Also, it can enhance the customer’s shopping experience.

One of the most advantages of IoT is it helps retailers on targeting consumers based on their past purchases.

As IoT provides all information, retailers can use personalized promotions for their loyal customers.

Thus, there is no need for mass marketing that might cost them more.

Summary

In different fields, new technology came up with great implementations to make life easier and more comfortable for both customers and any industrial sectors.

until now, you might do not have a clear implementation in your daily life with IoT applications.

However, it started somehow in the business and industrial field, and with the coming century, it will be the essential technology to be used.

]]>https://codovia.com/technology/iot-applied-real-life/feed0The Future of Oil and Gas Globallyhttps://codovia.com/oil-gas/future-oil-gas-globally https://codovia.com/oil-gas/future-oil-gas-globally#respondMon, 02 Dec 2019 15:46:23 +0000https://codovia.com/?p=2049According to a report from the UN initiative Sustainable Energy for All, more than a “billion people” on earth live without access to electricity, especially sub Saharan countries of rapid population growth. This report could help us as entrepreneurs, automobile executives, utility leaders or regulators, in order to predict the future of oil, gas and […]

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]]>According to a report from the UN initiative Sustainable Energy for All, more than a “billion people” on earth live without access to electricity, especially sub Saharan countries of rapid population growth.

This report could help us as entrepreneurs, automobile executives, utility leaders or regulators, in order to predict the future of oil, gas and the overall energy consumption.

We should start thinking about alternatives, to generate more renewable sources of energy.

Since 2015, the “G7 summit” in Germany, there was one common goal globally, to shift our energy production and usage from fossil fuels to clean energy; clean electricity.

To start talking about the future of oil and gas, we should talk about US.

Because it has shaped the future of oil and gas and this is a fact that we can’t ignore.

At the latest G7 summit, August 2019, Trump said the US has become

“the No. 1 energy producer in the world.”

but would it be that easy to be on the top of or one of the giant energy producers?

The Challenges and Opportunities that face the future of energy

“It’s interesting – a lot of the talk around oil and gas price volatility… you’ve got to remember, fundamentally, the price of the alternatives is coming down, they’re becoming more cost-competitive over time.”

Said Tom Delay told CNBC at the World Energy Congress in Istanbul.

• The most renewable and clean sources of energy are the sun and the wind, but the sun doesn’t always shine and the wind doesn’t always blow.

Batteries that are made to store sun and wind energy are not cheap and so, not efficient enough to empower us with energy during their absence.

Nuclear energy produces few greenhouse gases so, it is considered environmentally friendly compared to coal power plants that generate electricity and pollute the air.

But storing carbon dioxide underground to turn it into liquid fuel “clean energy” to be stored again but in a fuel cell, is still under development and progress.

As scientists have developed an artificial way of photosynthesis, to convert CO2 and water into liquefied fuels “natural fuels”.

• Another challenge is reducing the cost of diesel emission because it is too high.

The alternative is to use less petrol, to improve efficiency by hybridizing the gasoline.

Yet the future of energy is promising for power transformation

According to IRENA’s latest Renewable Energy Roadmap (REmap) 2018, around “65%” of the total final energy use will be made up of renewables in “2050”.

About “85%” of the electricity generated will come from renewables of which “72%” will be supplied by solar and wind resources.

The world is embracing flexibility at all scales, it needs to shift from fossil fuel, nuclear energy and coal towards clean energy by all means.

This vision, in turn, will guide the way of protecting the environment and fighting climate change through peaceful means and resources.

Also trying to achieve political independence, in response to the presence of tensions and conflicts between countries and even in the same country.

It is all about securing renewable sources of energy, which means life to begin and revive.

Wind wins in Europe and composes a larger part of its energy by the time

Europe added “4.9 GW” of new wind energy capacity in the first half of 2019.

Besides its wide availability, its competitive edge makes it even more attractive.

“Wind energy is one of the cheapest natural resources because there… (are) zero marginal costs.” said Jens Winkler, from wind energy company Enercon.

According to Jens is that:

The wind is not always blowing, so the big challenge, also, according to him:

Is currently to… work on battery solutions where you can actually turn electricity into gas and then bring it back into (a) form of electricity afterward when you need it again.

Renewable energy wins in GCC

Because the domestic demand for energy is increasing, GCC countries aim to depend on nuclear and renewable energy to fill this gap.

The UAE aims to make up the share of its renewable energy as “7 percent” by “2020” and Qatar aims to produce “20 percent” of electricity from renewable sources by “2030”.

Besides the upcoming diversified energy future, GCC is also committed to reducing its emissions.

In order to do so, GCC focused on solar energy, as it has one of the highest direct normal irradiation in the world, an opportunity that can’t be missed.

As a result, energy from PV: photovoltaic or solar energy paves its way due to the sunny weather.

In addition to the presence of relatively high competition from fossil fuels, there is also another challenge which is the dust and high temperature at the GCC.

This lowers the impact of the high production of solar energy at the GCC countries.

What are the trends that could affect the future of oil and gas?

• Oil Supply and Demand

Supply of oil used to peak and decline, but now oil prices have decreasedو as it is present in plenty amount which makes it less attractive than before.

While the demand is expected to reach its peak during the period “2025 and 2040” and then gradually decline.

This prediction is acceptable, according to the previous example mentioned about GCC.

For instance, demand will increase, as they face challenges in producing clean energy and because of the rush hours at a time when the sun is not shining.

Grids and fossil fuel systems are available, to back up renewable energy when they are not available.

• Gas Supply

Gas is used mainly for industrial purposes and not for transport, so it is unlike oil.

Oil is imported and exported globally on a large scale and this will continue to happen through pipelines across borders in the form of liquefied natural gas.

• Corporates that join the playfield

BP plans to increase energy production from renewable sources, so the world depends on it more than fossil fuels, especially solar and wind power.

The manufacturing costs of solar and wind power are coming down which fosters their production.

“Facebook” and “Google” are committed to powering their operations by “100%” renewable energy by the end of 2020.

Along with auto manufacturers such as General Motors, they grow their investment in renewable sources of energy such as wind farm in Oklahoma.

• The change in the transportation sector

The trend goes with driverless autonomous electric vehicles, so the demand for electricity will increase to be the most important part of the energy mix.

This demand is also related to consumer behavior, as it appears that they have desirability in Tesla electric vehicles.

Carpooling such as that of Uber and Hailo and electrification could shift the whole scene in transportation, but this still lies under the phase of trial and error.

Putting batteries in cars will enable it to act as moving energy storage devices.

It will not only consume energy from the grid but also supply power back when needed.

Ford Motor Co. announced that it will increase its investment in EV: electric vehicles to $11 billion by 2022.

Analysis from Reuters shows that the overall EV investment from global automakers to $90 billion.

General Motors alone will contribute by bringing 20 new battery and fuel-cell electric models to market by 2023.

Countries such as China, India, France, Norway, and England have announced banning gas and diesel cars.

Other countries like Japan, Korea, Ireland, and Spain have defined sales targets for the EVs.

• Millennials impact

Millennials demand energy from different resources, as they are aware of climate change and accompanied environmental problems.

Because the digitalization has penetrated the working environment and workflow.

Also, the changing lifestyle of millennials is directly reflected in their consumption of energy.

According to the previous analysis, economic growth is going to occur in emerging economies (the non-OECD countries).

They also use mini-grid services and solar PV, to gain more clean energy.

Consumers are investing more in their household devices that encourage efficient use of energy supply.

Examples are many; such as Google Nest, a smart-home ecosystem, or energy-efficient light bulbs.

Also, transportation of goods will be increasing in the coming years worldwide and so the demand for energy.

This will even decrease grid-tied power demand.

• Money flow

The research teams at Bloomberg New Energy Finance (BNEF) report that:

Renewable energy sources are set to represent almost three-quarters of the $10.2 trillion the world will invest in new power generating technology until 2040.

BNEF also reports that renewables will account for more than 60 percent of new energy investments, versus just 10 percent for coal and gas generation.

Source: Bloomberg New Energy Finance

This will take place across the Asia Pacific region (including the Chinese and Indian economies).

Also, the market for “green bonds” securities is increasing over time.

This means that more investment and money are invested and therefore established projects for the benefit of our environment.

The 3D model of energy: Decentralization, Decarbonization, and Digitalization

• Decentralization

It aims to improve air quality in cities and also reducing smog and carbon emissions.

In a nutshell, it means shifting from fossil fuels to renewable sources of energy such as solar and wind.

This can be implemented through the political framework of regulations to fight environmental pollution.

Examples of decentralization could be small plants or micro-generators.

It is to support and produce power for the specific areas, instead of depending on a centralized power grid.

This encourages democratization to foster development.

Decentralization applications are in many industrial countries where individual houses use solar panels or wind turbines.

Industrial sector should coordinate with customers to achieve this goal

• To help them increase their energy consumption from electricity.
• To reduce their consumption that depends on fossil fuels.

• Decarbonization

It is correlated with decentralization.

Decarbonization aims to reduce carbon emissions and to increase the energy supply from renewable sources of energy with the increasing number of energy producers.

To increase the efficiency of decarbonization, we should implement the concept of flexibility.

We have to focus on applying flexibility in operations, to generate more power through stronger grids.

E-mobility is a strong example of decarbonization that will grow in the near future.

Decarbonization is critical to achieve “electrification targets” among all sectors and also to help in building a sustainable world.

“50 coal-fired power plants” have shut down in the US since the last 2 years and its share in the energy mix decreases and that of renewable resources is increasing.

• Digitalization

Digitalization has grown since 2014, when oil prices have dropped down.

• In the era of “industrialization 4.0”, the Internet is a direct example that expresses the meaning and the importance of digitalization.

It goes hand in hand with decentralization through all industries.

According to CISCO, by 2020, there will be “30 billion connected devices”, thanks to IoT.

ADNOC company has been aware of this concept, its CEO Al Jaber said:

“In short, as we enter a new age of technology, the world remains reliant on a 160-year-old industry, whose core mission is to responsibly and efficiently stay ahead of tomorrow’s energy demand.”

At Adnoc, they call this mission “Oil and Gas 4.0.” “Oil and Gas 4.0.”

When we talk about digitalization as part of the 3D energy model, we should also refer to smart grids.

They are intelligent power grids that are integrated by IT systems, to create and connect the new network of producers and consumers.

This opens the door for new business models to come for new market participants of service providers, in order to provide higher stability,

• Another application od digitalization is Quantum computers.

They are based on quantum theory.

These computers use subatomic particles for data storage and data processing, so they perform faster and better than traditional computers.

The population growth rate and renewable energy production demand and supply are increasing at the same time.

So, quantum computers will affect our future of energy in many ways.

Conclusion:

The previous model will shift the economic power from oil-rich countries (OECD) to mineral-rich countries.

It will also affect utilities in EU and US and automobile manufacturers as well.

Also, It is not just the role of producers but consumers to apply the 3D model of energy on a larger scale.

History and insights can give us a vision of the bright side of the coming future.

The environmentally friendly techniques should lead our way through this journey of the energy transition

Analysis from all sides will guide us to contribute to our world empowerment and increasing economic growth.

]]>https://codovia.com/oil-gas/future-oil-gas-globally/feed0The 5 top oil reserves worldwide and their largest oil fieldshttps://codovia.com/oil-gas/5-top-oil-reserves-worldwide https://codovia.com/oil-gas/5-top-oil-reserves-worldwide#respondSun, 01 Dec 2019 15:46:56 +0000https://codovia.com/?p=1943Since I was a little girl, I repeatedly heard adults around me talking about countries in war only. They always said that all of these conflicts essentially because these countries have oil fields. And the countries with the largest oil fields are more of a target than others. These countries were always a magnet for […]

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]]>Since I was a little girl, I repeatedly heard adults around me talking about countries in war only.

They always said that all of these conflicts essentially because these countries have oil fields.

And the countries with the largest oil fields are more of a target than others.

These countries were always a magnet for political and economic conflicts.

Although they were always considered the wealthiest countries.

I knew that it must be a very important thing for a country to have oil fields and scary as well.

What exactly is an “oil field”?

According to “Wikipedia”:

“An oil field is a land area with an abundance of oil wells extracting petroleum (crude oil) from below ground.

Because oil reservoirs typically extend over a large area, possibly several hundred kilometers across, full exploitation entails multiple wells scattered across the area.”

For a country to have oil fields means they are having one of the top driving forces in the modern world.

But to establish an oil field needs a lot of money so not any country can do it even if it’s naturally gifted with oil.

How important is it for a country to have oil fields?

The oil field industry or the petroleum industry is very crucial to numerous other industries.

Its an essential pillar to the circle of the economic world and life in general.

This is a huge industry and this statistic by “ world population review“ proves my point:

“In “2018”, the world used approximately “99.3” million barrels per day of oil.

This number is projected to rise to “100.8” million in “2019”.”

And not only that, entrepreneurship is moving into the oil & gas industry regardless of how extremely hard that is.

Despite this hardship, “ Pedro Santos” the Founder/Director at “Nearshore Natural Gas” and “CNGmotive” sets a great example of the entrepreneurship wave in the oil and gas industry.

He founded 3 startups in the oil and gas industry in only a few years, and he’s not the only entrepreneur in this field.

The oil industry is a globally leading industry and it doesn’t adopt anything new that easily, so for entrepreneurs to try having a foot in this place proves how vital it is.

Hence, if entrepreneurship is a great career choice in general, how prominent it would be if it’s in the oil field?

The 5 largest oil reserves worldwide and their largest oil fields.

So, who do you think has the most oil in the world? I bet some names would come to mind.

Anyway, without further ado, here are the largest oil reserves in the world.

1. Venezuela

“Venezuela” is known to have the largest oil reserves in the world.

It’s proved oil reserves are estimated at “303.2” billion barrels, this is “17.9%” of world total oil reserves.

But most of these reserves are extra-heavy oil which is extremely challenging to produce.

That’s why “Venezuela” attracted international oil companies to participate in the development of these reserves and turn it into crude oil.

A number of companies answered and invested a huge amount of money into “Venezuela” oil fields.

Companies like “ConocoPhillips”, “BP”, “Chevron”, “ExxonMobil” and “Total”.

“Venezuela” is known to have the largest oil field in all of “South America”.

“The Bolivar Coastal Fields (BCF)” is considered to be “Venezuela”‘s largest oil field.

And it’s also called “The Bolivar Coastal Complex”

This field is located on the eastern margin of “Lake Maracaibo”, “Venezuela” and it stretches “35” miles along the north-east coast of “Lake Maracaibo”.

“The Bolivar Coastal Fields (BCF)” Production is maintained between “6,000” and “7,000” barrels per day.

But it seems that “Venezuela” having the largest oil reserves in the world won’t last forever.

Due to the latest economic and political crisis, it’s estimated that “Venezuela” would hit a “500,00” BPD next year.

This is after it was about “1.02” million barrels last February and “732,000” barrels in March according to The Organization of the Petroleum Exporting Countries (OPEC).

So, we would have to wait and see how everything will turn out to be for “Venezuela”.

2. Saudi Arabia

This country has the second-largest amount of oil reserves in the world with “266.2” billion barrels, which is “15.7%” of world total oil reserves.

“Saudi Arabia” owns five major oil fields, including “The Ghawar” Field which is the largest conventional oil field in the world not only “KSA”.

“Saudi Arabia” is one of the largest oil exporters in the world.

“The Ghawar” Field measures “280” by “30” km and is entirely owned and run by the national Saudi oil company “Saudi Aramco”.

But due to the recent attacks on “Saudi Arabia” that affected mainly “The Abqaiq” and “The Khurais” oil facilities, the kingdom was forced to suspend more than half of its production.

The suspended production is considered “6%” of global oil supplies, and that made a sudden change in prices.

Regarding the recent events “ Daniel Yergin”, vice chairman of data and research firm “IHS Markit” expressed:

“The two big questions are: How long does it take the Saudis to repair “Abqaiq” and bring production back on? The second really big question is: What happens next?

As far as ” Saudi Arabia” is concerned, this was an act of war. And it was carried out with great precision.”

So, this raises great concern, are things going to get truly better, or worse?

3. Canada

In third place comes “Canada” with “168.9” billion barrels of proved oil reserves which are “10%” of the world total.

“96%” of “Canada”’s proven oil reserves are located in “Alberta”‘s oil sands which are a powerful source of Canadian energy and a huge industry.

“The oil sands accounted for” 64%” of “Canada” ’s oil production in “2018” or “2.9” million barrels per day.

The oil sands have an estimated “ $313″ billion of capital investment to date, including “$10.4” billion in “2018”.”

In west-central “Alberta”, you’ll find “Judy creek” which is considered the largest oil field in “Canada”.

And also it is the largest reservoirs in “The Swan Hills” oil field.

It has about “350” wells drilled and nearly “6000” m (19,685 ft).

It is an isolated reef complex of the Upper Devonian Swan Hills Formation.

As important as this industry is, unfortunately, “Canada” is facing major environmental issues and the balance is hard.

One of these conflicts is right at the foot of “Burnaby mountain”.

There lays a pipeline that carries “300,000” barrels of oil a day from “Alberta” to the east of “British Columbia”.

This pipeline is about “1,147” km which is about “713” miles of length.

The pipeline is at capacity, so “Alberta” wants to treble capacity by adding another pipe alongside the existing one.

Therefor opposition from “British Columbia”, environmentalists and some of the indigenous groups along the pipeline route were extremely irritated and provoked.

In light of these events “ Sophie Harrison”, formerly an activist with “Dogwood”, a Vancouver NGO is wondering about:

If the planet is to avoid catastrophic climate change, “why are we expanding oil production [by building a pipeline] with a lifetime of “50” years?”

4. Iran

The oil and gas industries in “Iran” play an important role in dominating the economy.

This country comes fourth in the list of the top oil reserves countries worldwide.

It’s proven oil reserve is “157.2” billion barrels which are “9.3%” of the world total.

Lays in “Iran” “the Ahvaz” oil field which is the third-largest oil field in the world and the largest one in “Iran”.

The Ahvaz field is about “67” kilometers ( 42 mi) long and “6” kilometers ( 3.7 mi) wide.

Despite these rankings, “Iran” is having some major issues when it comes to the oil and gas industry.

The latest “US” sanctions hit the Iranian market pretty hard.

US Secretary of State “Mike Pompeo” stated:

“The United States” has removed nearly “2.7” million barrels of Iranian oil from global markets daily as a result of “Washington”‘s decision to reimpose sanctions on all purchases of “Iran”‘s crude.”

“Iran” also needs at least “$20bn” in annual investments which were mainly expected to come from foreign partners.

But after the sanctions, it will be extremely difficult.

Not only that but there is another important issue according to “Radio Farda”:

“Another major problem is that “80” percent of “Iran”’s active oil fields are old and lose about “8-12” percent of their production capacity annually.”

The question here is whether Iran is going to get back on its feet anytime soon or forever would be outcasted?

5. Iraq

The “Iraq” proven oil reserves are “148.8” billion barrels, “8.8%” of the world total.

These numbers make Iraq the fifth in line in the top oil reserves countries in the world.

Iraq oil industry is maybe so important to its economy than a lot of other countries.

“Iraq” is heavily dependent on oil revenue, more so than most of its “OPEC” partners. Crude petroleum accounted for “95%” of “Iraq”‘s “$60.8” billion in exports in “2017”.

The “Rumaila” oil field is the largest oil field in “Iraq” and its owned by the “Iraq” National Oil Company.

This oil field is located in “Basra, Iraq” and It is extended over a “1,800km²” area and expanding.

The future of the oil industry in “Iraq” is very promising.

It’s predicted that its oil production will approach “6” million barrels a day by “2030”.

according to “Bloomberg” :

“Iraq” will be the third-biggest provider of new oil supplies over the next decade, boosting its production by almost “30” percent, according to the International Energy Agency.”

The conclusion

We have here The “ 5″ top oil reserves in the whole world along with their largest oil fields.

But do you think ten or twenty years from now they are going to be at the same place?

The oil industry has been and always will be one of the most crucial industries worldwide.

It affects countries on so many levels, most importantly economical and political.

You need to know a country’s status when it comes to the oil industry(among other indicators) in order to understand its worth.

So only the smartest and luckiest will remain on top of the global oil field.

Also on an individual level, if you can make a career in the oil industry, this will be a life-changing decision.

Better yet, to start a business in this industry would be the best thing that could ever happen to you.

]]>https://codovia.com/oil-gas/5-top-oil-reserves-worldwide/feed0IoT: definitions, importance, and top industrial IoT companieshttps://codovia.com/technology/iot-definitions-industrial-iot-companies https://codovia.com/technology/iot-definitions-industrial-iot-companies#respondFri, 29 Nov 2019 15:47:25 +0000https://codovia.com/?p=2002Technology for a while now has been the kind of intruder that you don’t actually mind its constant sneaky ways of offering help. We keep complaining about its negative impact, but deep down we actually like it. What’s interesting about this topic is that whether we admit it or not, luxury is now defined by […]

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]]>Technology for a while now has been the kind of intruder that you don’t actually mind its constant sneaky ways of offering help.

We keep complaining about its negative impact, but deep down we actually like it.

What’s interesting about this topic is that whether we admit it or not, luxury is now defined by technology.

Think about it, all our A-list celebrities, wanna-be influencers, even the rich girl in your class.

How do we assume they have money? iPhones, luxury cars with embedded systems that seem unnecessary at the time, but again if you had the money, you wouldn’t think twice about buying one.

All luxury brands are now hopping on new technologically-advanced trends to offer options you did not know you needed until they came to life.

Feeding on humans’ instinct of wanting more and consuming more and the compulsive buyers, shopping addicts, or just the ones who try to fit in, every other day a new integration of technology into a machine is launched.

The integration of technology into a machine is not the most technical term there is, it’s not gonna give you an internship at Microsoft if you ask me. A more professional term is “Internet of Things” (IoT).

What is IoT?

Well, according to Wikipedia, it’s

“a system of interrelated computing devices, mechanical and digital machines, objects, animals or people that are provided with unique identifiers (UIDs) and the ability to transfer data over a network without requiring human-to-human or human-to-computer interaction”

But according to Technopedia, it’s

“computing concept that describes the idea of everyday physical objects being connected to the internet and being able to identify themselves to other devices.”

I know it’s hard to believe that both these definitions mean the same thing but they do. Technopedia just decided to make our lives easier that’s all.

I also decided to make your lives even easier.

Not long ago, a tweet went viral of a girl tweeting from her “ Smart fridge” after her mom confiscated all her electronics.

Now whether it was fake or true, the idea itself got people mad because they didn’t even know that this was something you could do, tweeting from my microwave? yes, please.

But the thing is it’s not that far from reality, I honestly do not know if you can tweet from your fridge, but I don’t think it’s impossible after we made everything around us “ Smart“.

What’s the meaning of a machine being smart you ask? any machine created by mankind that is connected to the internet is considered smart.

Your mobile phones were just phones before a bunch of tech companies decided to add the ability to access the internet to our phones and called them smartphones. Genius I know.

The evolution of smartphones didn’t come at once, IBM tried to introduce the idea by making a touch screen phone with a calendar, notes, and email which was crazy back then but did not make a lot of money.

And then blackberry introduced its first smartphone with internet access but with one-hour battery life and LCD screen and thought they nailed it, spoiler alert: they didn’t.

The next one did everything right I suppose since Apple sold 1.4 million iPhones its first year on the market and continued dominating the market until this morning I’m guessing. Talk about powerful.

The concept of IoT implies that devices are connected to the internet or sometimes other connected devices. The connected devices can send/receive data or both.

That concept opens the door to a lot of ideas and creations to be introduced, Smart microwaves, Smart cars, smart homes, fitness devices.

“is about extending the power of the internet beyond computers and smartphones to a whole range of other things, processes and environments” according to IoT for all

Why IoT?

Some people like to think that IoT is one of the most important creations in the 21 century.

Which might be an exaggeration to us the common people that have not been yet introduced to its geniuses.

Most technological advances are made to make lives easier, or at least that’s how people in the tech world tell us so.

The IoT is no different, the concept promotes efficiency in performance as it introduces how in the near future our daily tasks will require the minimum human contact there is.

This is not an idea that everyone would be comfortable with, especially the older generations that are already frustrated by how our jobs are now way easier and require simple efforts.

But we learned better than to let our paranoia of human extinction and replacement by machines to make our decisions for us, right?

IoT when first introduced was like candy and companies were the kids in the candy store, simply because it offered them the opportunity to run their business very efficiently.

It allowed them to reduce costs remarkably by:

Promoting efficient resource utilization:

A lot of industries (especially the food industry) suffer a lot of losses due to the lack of awareness of resource usage which could be avoided by using data-gathering devices that monitor behavior patterns.

Humans do not have the ability to monitor things 24/7 while gathering data, analyzing it, and finally translating it into basic equations to provide solutions that point out what the production department can do to run the business more efficiently.

But fortunately, machines can. And that’s exactly what technology embedded machines offer to companies.

It minimizes human efforts in many life aspects:

IoT exists in your home appliances. Amazon, for example, has a smart alarm clock that can record videos on its screen and can be used as a nursery camera and can be easily connected to speakers.

Nest Smart Thermostat learns what temperature you prefer and adjust itself on it while sending you alerts when the temperatures are threatening to ruin your belongings and appliances.

Logitech Portable wifi video camera that helps you keep home safe and stay connected – all from your smartphone. It comes with AES encryption and free private 24-hour secure cloud storage.

Edyn Garden Sensor which keeps you connected to your garden. It tracks light, nutrition, moisture, humidity and temperature. It is Wi-Fi connected and it sends notifications to your phone.

PulseOn’s patented optical sensor detecting and measuring heart rate.

Keen Home Smart Vent System reduces energy costs and increases your comfort by regulating your home’s temperature in every room. Air purification.

Mr. Coffee 10-Cup Smart Optimal Brew Coffeemaker makes it easy to schedule, monitor, and modify your brew from anywhere.

Evolution of IoT (3 stages)

IoT went through 3 stages from the terms of sensors to networks and device thinking to ecosystems and task thinking.

This evolution did not happen overnight, every stage that came to life took a lot of research and testing that eventually led to the other stage, and companies with the way the concept was a game-changer in a lot of industries felt the necessity to keep looking.

IoT 1 (Smart Technology)

The first stage had kind of a limited impact in comparison to the other stages, it could only, for example, offer home-based utilities such as heating, lighting, and security, but couldn’t change an entire ecosystem like managing the entire home and the tasks in it.

It managed non-complex tasks that still required human contact to monitor. Which explains why it had a limited market.

IoT 2 (Closed Ecosystem)

The second stage offers a (Parent Ecosystem) that controls the house for example and whenever a smart device is added, the parent system “adopts” it and connects to it through an M2M (machine-to-machine), M2H (machine-to-human), M2D (machine-to-data system) network.

The home ecosystem controls almost every task in the house not only by being in contact with other smart machines added but also by monitoring security measures that the homeowner either adds or removes from the closed system that is his home.

IoT 3 (Open Ecosystem)

The third stage does not just invest in “my home” ecosystem, it’s also applied in communities, states, nations, and international levels.

The aspect of where this ecosystem can be applied is huge, it can applied to your payment and purchase routine.

You can see an item that you like in a friend’s house for example and you can order it to buy it and it finds the nearest place and places the order so it can be delivered to your house.

On the security side, these systems are applied to law enforcement, it can detect if someone has unrecognizable belongings and alert the police department near them to investigate it.

Top IoT industrial companies

“The technology that powers an organization has become just as essential to success as the product or service a venture provides,” tech entrepreneur Leon Hounshell wrote in Forbes.

These are some of the companies that embraced IoT and shaped the market to hop on the new advances.

THETARAY

Located in New York, this company is using IoT to monitor their finances and help them to be cost-efficient by overseeing their production processes and revenues to avoid losses that occur due to human mistakes.

AUGURY

In their manufacturing department, they embedded IoT technology to the machines to monitor their own health and by doing that it alerts the online management system to fix the problem.

PLATAINE

They integrated IoT in their existing infrastructure to track raw materials and production processes by using algorithms to make quality products.

EMBUE

Located in Boston, being a real estate company they have embedded IoT in entire buildings that allow their residents to experience the quality of the concept of IoT by monitoring the indoor and outdoor environment.

CARTASITE

Cartaside provides IIoT sensing technology for safer and more efficient fleet and produced water management, worker safety, asset tracking and more.

Additionally, its digital mobile tools driveTIME and fieldTICKET eliminate the need for handwritten records, logs, work orders and other forms.

AXZON

Axzon’s integrated circuits are used in radio frequency identification (RFID) tags and passive wireless sensors. As part of its edge-to-edge processing, the raw data that’s collected is transformed into actionable insights using proprietary algorithms on the company’s versatile IIoT platform.

LINX GLOBAL MANUFACTURING

Linx is a design, engineering and manufacturing enterprise that makes automation machinery and IIoT equipment for a wide variety of industries. Billing itself as a “one-stop-shop” Linx handles projects from concept to completion.

NORIBACHI

It makes smart LED lighting for high-output commercial and industrial applications as well as modular light engines that can integrate LED systems anywhere via retrofit or new installation.

VALARM

Valarm’s services include remote monitoring, telemetry, sensors, and IIoT devices. Its open platform, Tools.Valarm.net, can accommodate an array of different sensors.

The company’s devices have been used in many scenarios, including for water level and flood monitoring warning systems in the Chesapeake Bay area and water well management.

Summary

IoT introduced smart, a concept that we knew existed in human-beings but took a long time for us to realize that we shouldn’t be the only things that are smart.

If one person is smart it can create smart things that can be sold and make other persons smart.

Smart is always a good idea, if we forget for a second the “Black Mirror” Netflix Series we can actually enjoy what we’re being handed.

There’s no shame in doing your daily tasks with the least effort if it helps us to produce more.

Taking the big picture into consideration, we’re doing good for the economy. A technology-based ecosystem does more good than bad.

Embracing the change was not always our best trait as individuals but as scientists predict, embracing it will, not be an option in the near future.

The revolutionary changes that are happening and that will change the way we operate daily cannot be ignored as it slowly slides into our daily routine.

The concept that people fear what they do not understand is maybe why there is a lot of debating around whether or not IoT is doing good for our society.

But at the end of the day, if something can be done it can be undone, which is very reassuring since we’re the creators after all.

]]>https://codovia.com/technology/iot-definitions-industrial-iot-companies/feed0What are the largest oilfield service companies in 2019?https://codovia.com/oil-gas/the-largest-oilfield-service-companies-in-2019 https://codovia.com/oil-gas/the-largest-oilfield-service-companies-in-2019#respondThu, 28 Nov 2019 15:47:42 +0000https://codovia.com/?p=2018Eventually, we can not deny that the oilfield is the largest source of energy. Even if there is a call for new clean energy, oil and gas remain the essential source of energy for the whole world.` According to fortune business insights’ report, the global oilfield service market accounted for a value of US$ 250 […]

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]]>Eventually, we can not deny that the oilfield is the largest source of energy.

Even if there is a call for new clean energy, oil and gas remain the essential source of energy for the whole world.`

According to fortune business insights’ report, the global oilfield service market accounted for a value of US$ 250 Billion in the year 2018 and is estimated to reach US$ 330 Billion by 2026.

Knowing the top companies in the market makes you understand every change might happen.

Changes such as price fluctuations, main places or countries that own oil and gas or any other changes.

Let’s start and discuss the top largest companies in the oil and gas industry based on the information provided by the second quarter of 2019.

Largest oilfield service providers in 2019:

Schlumberger

Schlumberger is the largest provider of oilfield service.

You can consider it as a titan of the industry.

As it has more than 100,000 employees works over 85 countries.

According to oil and gas middle east , In 2018, Schlumberger introduced technologies includes the HyperBlade hyperbolic diamond element bit, GyroSphere MEMS gyro-while drilling service, and Fulcrum cement-conveyed frac performance technology, among others.

By the second quarter of 2019, the report presents that Schlumberger beats its competitors by achieving the highest revenue.

You can see the result like the following:

Worldwide revenue of $8.3 billion increased 5% sequentially.

International revenue of $5.5 billion increased 8% sequentially.

North America revenue of $2.8 billion increased 2% sequentially.

Pretax segment operating income of $968 million increased 7% sequentially

Earnings per share ( EPS) were $0.35.

Cash flow from operations and free cash flow were $1.1 billion and $0.5 billion, respectively.

A quarterly cash dividend of $0.50 per share was approved.

Halliburton

Let’s go to the second on the list this year, Halliburton.

Halliburton can be considered as one of the largest company in the oilfield industry.

It operates in more than 70 countries.

Also, it employs more than 55,000 people around the world in different projects and brands.

Halliburton jumped to the second-order in 2019 list due to its offers to replicate the US shale boom in Gulf Cooperation Council (GCC).

As oil and gas middle east mentioned in the article:

But lowering the cost of production is not as simple as it sounds, since the Middle East has a different set of obstacles than North America.

As such, Halliburton has made concerted efforts to ‘localise’ shale production, allowing operators to use locally-available resources to extract unconventional hydrocarbons.

By the end of July 2019, Halliburton announced a net income worth of $303 million.

Halliburton’s execution in the second quarter was outstanding and I am pleased with our results.

We continue to build on the growth momentum internationally and successfully manage the market dynamics in North America.

Jeff Miller, Chairman, President and CEO.

Baker Hughes, a GE company

The third company in the 2019 list is Baker Hughes, a GE company.

It operates in 120 countries and employs approximately 70,000 people around the world.

Besides, it provides the oil and gas industry with different products and services for:

-oil drilling.

-formation evaluation.

-completion.

-production and reservoir consulting.

According to oil and gas middle east report, it takes the third spot on our list because of its tireless work in the GCC, where its efforts to merge its digital technology with the localisation needs of the region have been celebrated.

According to Baker Hughes, a GE company financial report, the company revenue reached $6 billion in the second quarter.

Compared to the last quarter, this considered a great achievement.

Also, the adjusted operating income becomes $361 million for the quarter.

Baker Hughes, a GE company consider its success in having new contracts.

As mentioned in the Baker Hughes report:

In Norway, the Company was awarded two long-term contracts for downhole monitoring and sand control screens, expanding on an integrated contract award it secured in 2018 with the same customer.

In the United Arab Emirates (UAE), BHGE was awarded a long-term contract to supply upper completions and well monitoring for 94 wells.

Weir

Weir Group is one of the oldest companies in the oil and gas industry.

It listed on the London stock exchange.

Also, the company operates in over 70 countries and employs more than 14,000 employees.

The main focus of the Weir group is om mining, oil and gas, and power market.

Weir has earned a spot close to the top of our list thanks to large wellhead orders from ADNOC and KOC, among others, as part of its efforts to globalise its pressure control offering.

The company has continued to strengthen its local workforce, and boasts eight regional facilities.

oil and gas middle east report.

According to the announced report by Weir, its revenue increased by 22% by the end of July 2019.

Also, for the shareholders, the earnings by share ( EPS) increased by 11% compared to 2018.

Thus, this considers as a good indicator for investors.

Looking to the full year, we currently expect our mining and infrastructure markets to continue to benefit from positive industry fundamentals with oil and gas activity to improve modestly from current levels. Overall, assuming market and macro-economic conditions remain supportive, we anticipate the Group will deliver another year of good constant currency revenue and profit growth, supported by strong execution of our We are Weir strategy. Jon Stanton, Weir Group Chief Executive Officer

Emerson

In the fifth place, you can find Emerson corporation.

It employs more than 76,000 in more than 205 locations around the world.

According to oil and gas middle east magazine, Emerson corporation made several acquisitions to boost its portfolio, including Zedi’s software and automation business, GE automation division Intelligent Platforms, and analytics software firm KNet.

According to Emerson’s second-quarter report of 2019, the company made a sales growth of 8%.

Also, it generated net sales of $4.6 billion with a return of $1.6 billion to shareholders.

Besides these great results, Emerson announced a partnership with Cisco, introducing the next generation of industrial network solutions.

To help enable new digital transformation strategies, this industrial networking solution combines Emerson’s expertise in industrial automation and applications with Cisco’s innovations in networking, cybersecurity and IT infrastructure.

Summary

Being at the top of the oil and gas industry requires an open eye on new technologies and how to deal with it.

As you can see, the top five companies always working on searching and making new contacts and deals to cope.

Having New techniques will influence the company’s orders and revenue.

Also, will cause an increase in the shares prices, which will increase its earning.

And now what do you think?

Would this rank will be the same at the end of 2019? and why?

Tell us your opinion.

]]>https://codovia.com/oil-gas/the-largest-oilfield-service-companies-in-2019/feed0the 5 most common coiled tubing applications worldwidehttps://codovia.com/oil-gas/5-most-common-coiled-tubing-applications-worldwide https://codovia.com/oil-gas/5-most-common-coiled-tubing-applications-worldwide#respondTue, 26 Nov 2019 12:29:07 +0000https://codovia.com/?p=2039Have you ever heard or came across the term “coiled tubing”? and if so, do you know what is it? what does it mean? In the oil and gas industry, you always come across specific words among its different terminologies. One of these important terminologies is “coiled tubing”. When you search about coiled tubing you […]

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]]>Have you ever heard or came across the term “coiled tubing”? and if so, do you know what is it? what does it mean?

In the oil and gas industry, you always come across specific words among its different terminologies.

One of these important terminologies is “coiled tubing”.

When you search about coiled tubing you find various common terminologies always repeated.

Terminologies such as: “coiled tubing units”, “Coiled tubing applications”, “the difference between wire-line and coiled tubing” and a lot more.

What exactly is coiled tubing? how important it in the oil and gas industry? and how did it start?

What is coiled tubing?

Simply put, the term “Coiled tubing” refers to flexible steel tubes.

They’re usually in the range of “1” to “2” inches in diameter.

And its length may exceed several thousand feet.

They are rolled on a large roller which is driven by hydraulic or electrical methods.

The installation of equipment related to the coiled tubing in the well is called a bottom hole assembly.

It ranges from a small chemical pump to highly complex recording installations.

The main component of Coiled Tubing is the injection head.

Below the injector head is the filler area.

The filler area contains a rubber gasket that isolates the well pressure from the outside.

Finally, the unit is provided with a conventional set of explosion-proof barriers.

These explosion-proof barriers help close the well when there is a risk of leakage or even cutting pipes.

In this case, it closes the well until controlled by drilling fluids.

The history of coiled tubing.

“ The origins of continuous-length, steel-tubing technology can be traced to engineering and fabrication work pioneered by Allied engineering teams during the Second World War.”

“Although the initial development effort of spoolable steel tubulars was reported to have occurred in the early “1940s”, the first concept developed for use of continuous-length tubing in oil/gas wellbore services can be found in “U.S.“

As you can see coiled tubing goes way back in time, of course, it’s not the same since it was first introduced to the industry.

Coiled Tubing has developed over the years so we can finally have the coiled tubing of today.

“In “1962”, the California Oil Co. and Bowen Tools developed the first working prototype “continuous-string light workover unit” for use in washing out sand bridges in “ U.S.” Gulf of Mexico oil/gas wells (Fig. 3)”

It seems that the “ U.S.” mainly has the lead in coiled tubing development over the years and in introducing it to us in the modern look.

Importance of Coiled tubing.

Before we get into the importance of coiled tubing we need to understand where does it’s importance comes from?

The importance of anything related to the oil and gas industry is coming from how majorly important is it.

Petroleum is considered the main energy source in the world.

It’s a crucial key in the operation of a lot of other important industries.

So it’s no surprise that everything related to this industry is as important as the industry itself.

And that is why coiled tubing is notably valuable.

“Coiled tubing is used as a cost-effective solution for numerous well work and intervention applications with the key advantage of the ability to continuously circulate through the tubing while utilizing the coiled tubing pressure control equipment in treating a live well.”

Coiled tubing techniques are relatively new in the field of well operations.

It has occupied a rapidly advanced position in this field and its multiple uses ranging from simple pumping operations to drilling operations of vertical and directed wells.

These pipes are used for interference in wells or even as production pipes for gas wells.

Coiled tubing technology has replaced many wireline processes such as paraffin removal, well sampling, electrical and nuclear recording, and installation of packers.

The main advantage in the coiled tubing of the line is the possibility of pumping chemicals or cement into the well as it is suitable for wells with high inclination angles and horizontal, unlike the line.

Global Coiled Tubing status.

According to “markets and market s”, the coiled tubing market is rapidly increasing and expanding around the world:

“The “North American” region remains the largest market for coiled tubing, followed by “Europe”, “ Asia-Pacific”, and the “Middle East”.

The recent shale gas developments in the “U.S.” have pushed explorations activities in the region, thereby increasing the market.

The “Middle East” and “Africa” markets continue to be a key growth area due to the increasing demand for innovative technology in terms of oil & gas application, which is backed by new investments.

The development of new fields in the Middle Eastern and African region also provides a thrust, thereby driving the coiled tubing market in those regions.”

Coiled Tubing Applications

coiled tubing is indeed the future, agrees also with this “grand view research”:

“Increasing operating costs for extracting oil from existing wells and the regeneration of matured oil wells are the major factors for the growth of various oil recovering techniques.

In addition, the rise in shale gas projects and development in other unconventional resources is also anticipated to drive the market growth.

Declining oil & gas production from the existing wells is expected to boost the market in the next eight years.”

There is a large-scale range of operations on the site that makes good use of coiled tubing such as:

Circulation

One of the most common uses of Coiled Tubing is to prevent the flow of hydrocarbons from the well to the surface.

This prevention happens by using the weight of the drilling fluid column (hydrostatic pressure) that requires lifting after completion of drilling or repair.

This is done by pumping gas (often nitrogen) down the well to displace the drilling fluid, allowing oil or gas to flow to begin production.

The approach of ever-increasing sizes of coiled tubing requires that nitrogen pump rates for each well be considered with some care.

Too high a pump rate can form a nitrogen buffer that will not let formation fluids to enter the wellbore.

Also, too low of a pump rate will result in an inefficient lift.

If any of these extreme cases happens it will result in extended job times, unnecessary use of nitrogen.

Then it will not unload enough fluid to allow the well to flow.

Then the fluid dynamics and associated forces need to be modeled at the job planning stage.

Pumping

This one is a very important and crucial application for coiled tubing.

Such as acid pumping to open the pores of limestone layers, cement pumping, or chemical washing of wells.

Coiled Tubing ranks high in the implementation of these operations.

This is where it is characterized by the speed of installation and landing, which reduces the time of operations significantly.

Nitrogen lifting is used to reduce the hydrostatic pressure of the column to induce production after the closure of the well or its intervention activity.

What is particularly important in pumping applications is the pressure cycling effect on coiled tubing fatigue life, and the susceptibility of coiled tubing to collapse pressure.

Cleaning wellbore

Cleaning wellbores is one of the most common coiled tubing applications.

However, removing the fill from wells with low bottom hole pressures can be challenging.

This is particularly if wells are completed with smaller diameter production tubular which significantly reduces circulation flow cross-section and choke flow.

Of course, there is the conventional solution to overcome excess hydrostatic pressure and it’s to lessen the hydrostatic head by including nitrogen to reduce fluid density.

However, sand vacuuming technology using a concentric coiled tubing with a downhole jet pump is an alternative technique for removing fill without placing a hydrostatic load on the reservoir.

Drilling

This use was developed to replace the traditional drilling methods.

It’s characterized by easy landing and lifting from the well tripping in and out, where many of the links are untied and disassembled in the case of ordinary drilling.

This application has many advantages that are very beneficial to the process.

It’s underbalanced drilling, managed pressure drilling and this is not exclusively.

Coiled tubing provides continuous use of hardwired telemetry and conduits Fully contained well pressure Small footprint and greater mobility Quicker trip times.

Drilling in the case of Coiled Tubing is carried out by a turbine engine that works by compressing the drilling fluid to move the ileum.

Logging and perforating

Usually, this process is done using conventional wireline equipment.

But in horizontal wells, it is difficult to complete the task of registration using wireline techniques.

These techniques depend on gravity to lower the equipment.

Therefore, in this case, coiled tubing is used.

As the rigidity of the pipes allows pushing into the well without relying on the weight of the equipment.

A type of Coiled Tubing is being developed.

It includes cables to transmit the electrical signal to and from equipment under the well.

Circulating nitrogen gas through the workstring will make production logging of low-pressure wells carried out effectively.

This process creates both the necessary formation drawdown and lift to bring returns to the surface.

As for perforating, conventional or pressure activated perforating guns can be run on coiled tubing.

However, the tools used for shear pin release should not be used.

The resulting shock wave from firing the guns without any trouble can generate force to shear the largest of any conventionally rated pins.

Production

Coiled Tubing is used as a production pipe in gas wells.

It is lowered either inside the production pipe or inside the casing pipe directly.

Due to the small diameter of the Coiled Tubing pipes the gas rushes at a high speed.

In this case, raise the water to the surface so that it does not accumulate in the well and cause the flow to stop (kill the well).

The conclusion

The oil and gas industry is an essential pillar in the world economy.

It changes countries’ mindsets, especially Petroleum exporting countries.

Most of them have developed techniques in the science of oil extraction.

They also exploited the expertise and skills in this field pretty well.

These techniques include by default “coiled tubing”.

As you can mark here the future of coiled tubing is remarkably encouraging.

“With the high demand for energy in the African, Middle Eastern, and Asian regions, there has been an increase in exploration activities.

This has enhanced the coiled tubing market, which is estimated to grow and reach approximately “$4.4” Billion by “2020”, at a CAGR of “6-7%” from “2015” to “2020.“

The previous coiled tubing applications are not the only examples of how significantly important coiled tubing is.

These are only some of the most common ones, not all of them.

You can recognize how much progress is happening in the oil and gas fields.

The whole world is moving forward in a lightninglike speed, and not just in this industry.

So, the train is a non-stop, either you’re on it or you’re far behind.

]]>https://codovia.com/oil-gas/5-most-common-coiled-tubing-applications-worldwide/feed0Benefits of IoT in the oil and gas industryhttps://codovia.com/oil-gas/iot-oil-and-gas-industry https://codovia.com/oil-gas/iot-oil-and-gas-industry#respondMon, 25 Nov 2019 13:40:23 +0000https://codovia.com/?p=2219Did you hear before about the intervention of IoT technologies in the oil and gas industry? If yes, how new technologies can influence this industry? And what are the benefits of IoT in the oil and gas sector? During the 20th century, the oil and gas industry was the most powerful in all industries. This […]

The post Benefits of IoT in the oil and gas industry appeared first on Codovia - For IoT, AI and Industrial Enterprise Solutions.

]]>Did you hear before about the intervention of IoT technologies in the oil and gas industry?

If yes, how new technologies can influence this industry?

And what are the benefits of IoT in the oil and gas sector?

During the 20th century, the oil and gas industry was the most powerful in all industries.

This power comes from that oil was (and still) the main fuel for every machine in any other industry.

This happened after the Industrial Revolution when every process started to be done by machine.

The oil field seems to be so important for leading countries.

And to the extremes, obtaining oil and gas has led to lots of wars until today.

In the oil and gas industry, there are lots of processes to get the final fuel.

In each process, the intervention of any new technology is necessary.

Any technology before IOT, get its importance because of making the process of finding petroleum easier.

With the new technology IOT, it does not just help with obtaining processes, but it improves health and safety and amplify profits.

Oil and gas IoT applications will become necessary for a competitive edge among rising geopolitical and the tendency of climate change.

Let us discuss how IoT can benefit the oil and gas industry.

Benefits of IoT applications on Oil and gas

According to McKinsey’s reports, the internet of things (IoT) has a potential economic impact of $ 930 billion from mining and oil and gas (O & G) companies in the next ten years.

That is why the whole industry has to interested in IoT and try to apply it.

The most advantage of IoT applications lies in creating value through the integration of different strategies.

IoT will allow the industry to digitize, optimize, and automate processes that were previously unconnected to save time, money, and increase safety. Shannon Lee

Drilling Management

Drilling is the most important part of oil and gas procedures.

IoT applications minimize the risk during the drilling process and carry out tough operations.

Also, smart devices alert concern personnel in advance when any error happens by using the data received from the sensors.

Data management

Data management and analytics from oil fields, pipelines, and other energy sites can be considered as critical to guaranteeing the success of the oil and gas industry.

As data plays a significant role in improvements, better decisions, and enhancing capacity.

Using IoT technology enables millions of connected devices to collect lots of data.

Therefore, it allows oil and gas companies effective and efficient practices to maximize their revenue.

Besides, IoT provides these integrated data in a real-time base.

This data virtualization makes it unnecessary to have a central physical store location for the data.

Which minimizes the cost of storing and traveling to know any data you want.

As the data are digitalized, it provides an on-demand concept of it, you can have access at any time and wherever you are.

Asset tracking and monitoring

Due to the oil price volatility, most of the companies in the O&G industry spending more time analyzing their operations and investments to indicate in which sector they can reduce the cost while maintaining the business and maximizing the assets utilization.

Asset tracking and management is the most important benefit of IoT for any company.

In the process of assets tracking, assets are integrated into one unit to enable companies to transform their operations digitally.

Using tracking sensors, it provides useful information, so companies can identify the actual number of inventories and supplies.

If any item is missing, the IoT system can be used to track shipments with the exact locations of oil and gas assets.

Also, they can monitor multiple sites at the same time.

One of the advantages of IoT technologies is it enables companies to monitor operations on many levels:

Pipeline monitoring:

One of the most problems that face oil and gas companies is pipeline leakage.

To guarantee safety, IoT sensors can monitor pipeline equipment more accurate and at a low cost.

This monitoring process happens in a real-time base.

Thus, employees can quickly fix the problem which could cause significant danger.

Offshore monitoring:

Most offshore oil and gas production is done in extreme environmental conditions.

Monitoring these conditions such as pressures, temperatures, and others become a difficult task and too expensive.

One of the benefits of IoT is handling these hurdles to provide an efficient monitoring system.

Connecting monitoring points can be done by Low Powered Wide Area Network (LPWAN).

This implementation provides low-cost solutions for offshore oil and gas rig monitoring.

Predictive and Preventive maintenance

Most of the O&G facilities have to be monitored regularly.

This can be possible through remote services by IoT applications to react to the problems through predictive maintenance.

Predictive maintenance is performed based on the current condition of a piece of equipment. For example, if a coil is running too hot, its failure is imminent and requires a technician to diagnose the cause. Predictive maintenance allows O&G companies to leverage the remote monitoring of equipment through sensors to make important decisions about whether or not something needs to be shut down, fixed, replaced, etc. Shannon Lee

Thus, IoT sensors that collect data, send alert to the companies when the machine or any asset need to maintain.

Which prevent expensive equipment failure, wast of money or manpower.

The investment in predictive and preventive maintenance alone pushes O&G companies ahead of the curve by building predictive models companies can rely on for optimized execution. Shannon Lee

Health and safety

Well, health and safety can be considered as the most important element of the benefits of IoT in the oil and gas sector.

The majority of oil and gas locations are in dangerous places that are not conducive to health and safety for the worker nor the environment.

According to the center for disease control, between January 2015 and January 2017, oil and gas extraction workers were involved in 602 incidents, 481 hospitalizations, and 166 amputations.

IoT provides remote services that can monitor equipment and operations.

Without the need for individuals to go to the site with no knowledge about the situation.

Besides, sensors can predict when any asset needs to have maintenance, send alert to the required department and the company can take the required solution without any loss.

By using IoT, oil and gas companies provide their workers with a safe working environment.

Also, companies will be benefiting from paying lower insurance and corporate liability.

Summary

Having a smart process and facilities in the oil and gas industry can be done by applying IoT.

The integration and collection of data by IoT devices are helping the change happen the way the industry operates.

Did your company apply IoT on its process?

If yes share with us your experience.

]]>https://codovia.com/oil-gas/iot-oil-and-gas-industry/feed0