Exploration & Production

IOCs aim to cut production costs with drones

Harnessing new technologies such as drones and renewable energy will help IOCs to drive down the cost of producing oil and gas Harnessing new technologies such as drones and renewable energy will help IOCs to drive down the cost of producing oil and gas.
By The Wildcat 16 November 2018 0 33330
UAVs can be used to inspect rigs. (Sky Futures)

IOCs that embrace drones will gain a competitive advantage as the technology is more efficient and cheaper than employing people for inspection roles.

Many IOCs are rationalising their business models in the wake of the 2014 oil price crash and seeking to cut production costs. Adopting drones could help with this by cutting staff and reducing downtime for inspections. Combining this with the use of renewable energy used on offshore rigs could create significant cost savings in oil and gas production and also...