Oil & Gas
What We Cover
The Oil & Gas venue is organized into two primary segments: Exploration & Extraction (e.g. onshore or offshore rigs), and Transportation (e.g. pipelines. We cover applications in downstream refining in the industrial and manufacturing venue. Exploration/Extraction and Transportation include applications that are very distinct to each segment.
Within the Exploration & Extraction segment, applications include equipment monitoring and maintenance, such as of blow-back valves which carry significant downtime costs whereas, in Transportation, users are focusing on deploying monitoring solutions for compressors, pumps and similar types of equipment as well as sensors and analytics to detect pipeline leaks and to track supplies and capacity as oil and gas moves downstream to refineries.
Harbor’s Oil & Gas Outlook
Global oversupply of oil and gas led to a significant drop in the price of oil in the 2014-2015 time frame which, in turn, stalled investments in new technology deployment and infrastructure. Most informed observers believe the market has likely bottomed out and reached a “new normal” for the time being.
Pressures from the marketplace, ranging from challenging trading conditions and health and safety issues to the price of energy and environmental concerns, are all driving exploration companies and pipeline operators to look for ways to work smarter and more efficiently. Intelligent instrumentation and related smart systems, software and analytics help improve productivity, safety and operations.
Companies in the oil and gas business have historically invested much more in automation, control and computing in the downstream refining segment and have been more uneven in their investment in the exploration and transportation segments. In recent years, the industry has been increasingly embracing the benefits of embedded intelligence and wireless communications in field devices. Still, more than forty five percent of players in this venue have systems that are between 10-20 years old with fewer than forty percent of companies with systems less than 10 years old.
In the next few years, we expect more consistent investment in new technologies to upgrade and modernize instrumentation, controls, software and digital capabilities to enable increased field device visibility and systems intelligence.
Upstream Oil & Gas Channel Structure