Against the backdrop of multiple challenges faced by the industry in recent years, the industrial internet of things (IoT) may provide needed hybrid cloud and fog computing to analyze huge amounts of sensitive data from sensors and actuators to monitor oil rigs and wells closely, thereby better managing global oil production. Improved quality of service is possible with the fog computing because it can alleviate challenges that a standard isolated cloud cannot handle.
Oil and Gas Industry Challenges
Recently, the petroleum industry has faced critical challenges including oil price volatility, dramatically increased environmental regulations, the COVID-19 outbreak, and digital solutions to cybersecurity challenges. Oil and gas deals with a huge amount of data requiring an immediate response, with the flow of data generated by the IoT in all domains: upstream, midstream, and downstream. The vast amount of data and different types of IoT will create a barrier to holistic evaluation that does not depend on machine learning and artificial intelligence.
