OIL AND GAS
Digitally transforming the Oil & Gas industry with IIoT & AI
Falling oil prices has recently put significant pressure on profit margins in the Oil & Gas industry. Despite that, Oil & Gas companies continue to invest billions of dollars in physical assets to keep their value chain productive.
From upstream production operations to downstream refinery operations, there is significant room for operational improvement in the Oil & Gas industry. Currently, less than 10% of the data generated by equipment, processes and systems are used in operational optimization. Knowledge is power, and in this case, would drastically increase operational improvement.
That’s where we step in.
Symphony AI’s IIoT + AI platform and operations excellence solutions help Oil & Gas companies accelerate the value generation from their digital transformation initiatives. Our solutions are focused on delivering quantifiable value through:
Improved availability and performance of equipment/assets – Real time condition monitoring and algorithmic prediction of failures and anomalies, using Machine learning, can improve equipment availability and utilization.
Optimal Process performance – Continuous monitoring of equipment, unit operations and processes, and early predictions of deviations from ideal operating curves can lead to significant improvement in refinery processes.
Oil & Gas Refinery
“While Oil and Gas companies already collect an abundance of real-time data across their operations, this data is still not being used to its fullest potential to predict equipment problems and failures.”