A technology that once created science fiction is helping the oil and gas industry recover from the effects of Covid-19.

The oil industry has a long history. For over 5,000 years, the old lamps of our ancestors were illuminated by black wires filled with unrefined oil that continued to burn early campfires and battlefields until the 18th century.

Oil exploration, extraction, and refining began in earnest before and during the Industrial Revolution. Demand for energy has increased and the oil industry has moved towards this challenge by providing people with light, heat and electricity.

The 18th and 19th centuries saw the beginnings of great players that still dominate the field today, but the industry here has innovated at a rate that has never been more frequent. And while it is clear that we are going through a period of turmoil right now, I have no doubt that the oil and gas industry will be able to come back better and better than ever.

For example, whether we’re talking about television or a toaster, ‘smart’ seems like a new industry fashion word. In my opinion, any innovation opportunity and therefore smoothness should be welcome, especially from an investor’s point of view. I am not ashamed to say that I accept the Intelligent Revolution. Fortunately for us in the oil industry, pipelines are the next thing for smart upgrades.

Oil companies always help the reform move forward. Last month, a Silicon Valley technology company signed an agreement with Japanese steel company MISI to work on R&D for infrastructure components. These pipelines will have the ability to monitor and capture accurate environmental data both inside and outside the pipes. It has applications in pipe maintenance, but can also be used for environmental monitoring.
While Smart BuzzWord is positively innovative, the next exciting upgrade in the industry is incredibly futuristic. The wearable exhibit of a 1980s sci-fi movie might sound like this, but it has a lot of applications these days. In fact, Utah-based robotics firm Sarkos is launching a commercial market this year. The Guardian XO Full Body Extrusion weighs a maximum of 200 lb (90 kg) and requires only minimal training on the operator’s side. This is surprising because it has a wide range of applications from warehouse work to construction. The oil and gas industry is heavily involved with XO-enabled house wheels.

Launching next year, Guardian XT is a modern invention of circuses. The remotely protected robot is controlled by a wearable VR exoskeleton and is surprisingly capable of performing the most complex and disgusting human tasks accurately. It allows the operator to stay at a safe distance even at high altitudes. In a high risk industry, this type of clothing will soon become common in veins around the world.

Extended Reality (XR) encompasses all technologies that expand our current reality. Things like virtual and augmented reality fall under this umbrella. Outside of the gaming industry, there are VR and AR applications in almost every market, and the oil and gas industry is no exception.

For example, digital twin technology is a way to see a process or environment in action before it is built. It makes this process very efficient in terms of both personal hours and money. Problems can be identified and manufactured ahead of time, and engineers are trained on the machine before it is sent abroad. The technology has been cleverly chosen by some of the biggest names in the industry for training, product purification and risk assessment. As we all know, the smoothing process equates to a smooth finish at the end!

The oil industry, like many others, has experienced instability in the past 12 months, thanks to the effects of CoVid-19 we’ve never seen before. However, new technologies hold great promise. Ideas limited to ideas are now turning into reality. The solution is simple: innovation is king. The further we can go and innovate, the more likely we are to survive, and more importantly, we can move forward.

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