The Oil & Gas industry today faces multiple challenges. Lower oil prices and slashed fuel consumption drive the need for cost-cutting and improved efficiency. Existing challenges of managing aging infrastructure, which, unlike other industries, is geographically dispersed. Further, obsolete technologies and automation systems make this infrastructure vulnerable to theft and cyberattacks, potentially leading to outages and health, safety, and environment damage costs to operators. Organizations need to turn to new technologies to streamline their processes while improving safety conditions.
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