| | MAY 20228E ERGYTech ReviewIN MY OPINIONThe oil & gas industry is facing nu-merous challenges today. Not only is the commodity price depen-dent on market demand and sup-ply conditions, but several other factors, such as natural disasters and most recently, the pandemic of novel corona virus (COVID-19), have negatively impacted the fu-ture of the industry and immensely affected the economics of keeping the trade profitable. Most of the industry is still heavily dependent on manual labor, requiring competent person-nel to run efficient operations. However, it is in-credibly challenging to keep the profits afloat, especially during the global downturn impact-ed by COVID-19. The industry is also commit-ting to transition towards clean energy while maintaining the highest safety and environ-mental protection benchmarks. How can this be achieved? How would the industry sustain itself and overcome the current challenges? The short answer is through digital systems transformation and implementation. With progressively more implementation and appli-cation of digitization in the oil & gas process and methodology, some of the difficult or un-drillable wells are being drilled and completed while meeting the key performance indicators. As a result, productivity and profitability is pre-served and accompanied by safer and flawless operational execution. Over the last two decades, Frank's Inter-national has focused heavily on reducing op-erational costs, maintaining safety standards, mitigating operational risks, and reducing personnel working in the red zone. Founded in 1938, Frank's International is a global indus-try leader in highly engineered Well Construc-tion and Well Intervention solutions. With the advancement of digital technologies, Frank's primary focus is to preserve wellbore integrity and optimize the well construction process of the most complex wells through automa-tion, controls, and reduced human interven-tion. The overall benefit of digitalization is duly witnessed when every segment in the oilfield is integrated in a single unified system. How-ever, the adaption and engineered solution for such vision should be planned in a phased ap-proach.THE FUTURE OF OIL & GAS INDUSTRY WITH DIGITAL SOLUTIONBy Azfar Mahmood, Product Manager, Digital Solutions, Frank's International
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