With energy demands rising and reserves of oil and gas becoming more challenging to access, the productivity revolution promoted by the Industrial Internet is of vital importance to the oil and gas sector. By combining decades of manufacturing expertise with its rapidly expanding software engineering capability, GE is leading the big data revolution so that its customers can operate both more effectively and efficiently.
The Industrial Internet drives improved business outcomes for customers by harvesting the vast quantities of data produced by the GE machines they have installed, such as jet engines and MRI scanners, and feeding this into advanced analytical systems. By analyzing the data it is possible to pursue the ‘power of one percent’, a GE term which states that efficiencies of only one percent can make a dramatic impact across the $32.3 trillion of relevant sectors.
In the oil and gas sector, GE is working in partnership with BP to ensure the efficient operation of critical rotating machinery found on the energy company’s production facilities. Such equipment includes compressors, generators and critical pumps that are vital to ensure the safe extraction and transportation of oil and gas, around the globe.
By analyzing sensor data such as vibration, rotor position, temperature, pressure flow and other parameters, GE is able to identify changes in the operating condition of the machine or determine that the machine is no longer performing at its optimal capacity. Identifying the early onset of abnormal operating conditions minimizes disruption and avoids unnecessary periods of down time that often result in lost production or increased costs. For example, BP aims to extend the running period between overhauls without interruption, a substantial challenge due to the aging infrastructure associated with some parts of the industry and the highly challenging environment that it has to operate in.
This article has been extracted from https://hbr.org, please click on this link to read the article in full https://hbr.org/sponsored/2015/06/big-data-and-big-oil-ges-systems-and-sensors-drive-efficiencies-for-bp
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