Oil & Gas Industry Now Looks to Digitization for Fulfilling Power Stability Requirements.
M2 PRESSWIRE-September 24, 2019-: Oil & Gas Industry Now Looks to Digitization for Fulfilling Power Stability Requirements
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RDATE:23092019
Enhancements in digitization-driven connectivity have empowered the oil & gas industry by providing unparalleled opportunities for value creation through new levels of data capture and analysis. As the applicability of digitization across all areas of the vast global oil & gas enterprise become more and more apparent, forward-looking managers are reinventing many of their key upstream, midstream and downstream processes. According to the World Economic Forum, digital transformation in the oil & gas industry could unlock approximately $1.6 trillion of value for the industry, its customers and wider society.
In order to understand some of the tangible business benefits of digitization, it is easier to focus on one specific, but important area as an example of the productivity (and profitability) gains that can be realized. In this case, an analysis of the area of operational power stability can provide us with a clear picture. More specifically, consider a focus on the area of backup power, which, in many cases, is managed through a device called an uninterruptible power supply (UPS).
The very nature of the oil & gas industry means that many of its complex operations, from a power perspective, are often plagued by problems like power sags, surges, outages, harmonics, power factor correction or frequency and voltage fluctuations. These situations hinder productivity because they lead to production power stops, high maintenance costs, and increased safety risks.
Over many years, UPS devices have proliferated across oil & gas operations. For instance, gas pipelines have compression and decompression points with sensitive equipment like pumps, motors and variable speed drives, which require a reliable, secure power supply. Offshore oil platforms are equipped with industrial UPSs that can provide power reliability despite exposure to harsh outside elements such as extreme temperature and high humidity levels. Liquid Natural Gas (LNG) regasification plants, refineries and other processing plants need power protection of sophisticated control equipment such as Distributed Control Systems (DCS), Programmable Logic Controllers (PLCs) and industrial Supervisory Control and Data Acquisition (SCADA) systems.
There are also facilities within these operations that house data centers or...
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