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June 29, 2016 – Aberdeen, Scotland, United Kingdom
FEATURED SPEAKERS INCLUDED:
With the current low oil price environment, and the projection that we will not see a significant upturn in the very near future, operators and service companies are looking at ways to maximize the life of current assets and increase productivity and operational efficiency. Technological advances have enabled smart companies to maintain or boost production in lower oil price scenarios whilst remaining profitable.
The Internet of Things is revolutionizing oil and gas. Energy companies are increasingly looking at how to harness their data across their supply chain by connecting their “things” – the people, processes and assets. Huge investments have already made in technology across operations – now the key is to leverage these investments to create new efficiencies and cost savings.
In a recent industry survey by Cisco, over two-thirds of C-Level executives sighted the operational efficiency of existing projects and the maintenance of assets and infrastructure as two areas for increased investment in the next 24 months. 50% of survey respondents didn’t think their companies IT and IoT strategies were aligned – suggesting a missed opportunity to improve efficiency, reduce shutdowns, operate at lower costs and become profitable.
By 2020, the consulting group Gartner estimate that over 25 billion devices will be connected to the cloud, many of them new sensors deployed across multiple industrial domains