4 Breakthrough Technology Trends That Will be Transforming Oil and...
Govciooutlook

4 Breakthrough Technology Trends That Will be Transforming Oil and Gas Industry

By Gov CIO Outlook | Wednesday, August 05, 2020

The advancements in technologies in the oil and gas industry are taking place at an exponential rate. Therefore, enterprises should keep a constant check on the status of technology innovation and its direction.

FREMONT, CA: In 2020, the world is likely to experience the acceleration of testing and deployment of technologies by companies, with incorporation across energy segments, specifically oil or gas, and offshore renewables. Decarbonizing offshore operational emission will become the major focus for the oil and gas industry, shifting from the concept to deployment of electrification solutions, waste heat recovery, and other technologies.

Cybersecurity

The year 2019 witnessed a lot of cases of both state-driven cyberwarfare and commercial breach. Moving towards the internet of everything and unmanned remote operations, the competition is in between technologies to attack and defend physical and digital assets, and a lot of activity on the security front is anticipated. 

Blockchain

Blockchain continues to maintain its position of being the most disruptive technology. Its adoption in the industrial domain, however, is proven to be slower than most expected. In 2020, it is anticipated that some pilots will probably concentrate on assets or people tracking, and their achievement will govern the rate of adoption for the remaining decade.

5G

In 2020, 5G networks’ rollouts are non-stand-alone, offering greater data-bandwidth and more dependable connectivity. However, the real game-changing use cases that are based on ultra-low latency and much higher capacity will be attainable with 5G stand-alone network architecture later on in the decade.

Quantum technology

Quantum technology is increasingly being developed for numerous purposes, from cybersecurity to gas detection. Many companies like IBM and Google are launching their quantum computers which are capable of performing tasks that are beyond the reach of the most robust conventional supercomputer.

Quantum supremacy can provide dramatic acceleration in particular huge data fields, such as earth and climate modelling, enabling both better weather forecasting and super intricate simulation for supporting the fight to climate change.

These technology transformations will need more chemical, and process engineers and STEM skills’ demand will increase. From changing agriculture and farming to a lesser impact on atmosphere and soil, for developing hydrogen and CCUS solution, new and more sustainable materials, new batteries and energy storage systems, and so on.

See also: Top Blockchain Technology Companies

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