The drivers to implement digital oilfield technology remain the same, but low oil prices will pressure companies to continue focusing on greater efficiency, productivity and safety. The oil and gas industry’s effort to do more with its data – and to become more productive and efficient to cope with low oil prices – means the industry will continue to delve into digital oilfield technologies, including the Internet of Things (IoT) and Big Data technology. The downturn in oil prices has triggered waves of layoffs and cutbacks in capital spending, but exploration and production will not go away as companies will be required to drill a certain number of wells to maintain leases. Instead, companies have been high grading assets, or focusing on the most productive prospects that deliver the biggest bang for their buck, Chris Niven, director of energy research with IDC Consulting, told Rigzone. The drivers of greater […]