IIoT concepts are transforming the Oil & Gas industry business model in fast and dramatic ways as a result of three key factors:
- The cost of connected sensors has plummeted.
- Connectivity is now widespread.
- New software analytics programs can monetise the astounding level of real-time data.
This paper reviews these concepts and examines how Oil & Gas upstream, midstream and downstream processes are impacted and how these processes can derive benefit from this advanced digitisation.
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