Robotic Automation and the Future of Oil and Gas Extraction
Overview
Welcome to our information guide on Robotic Automation and the Future of Oil and Gas Extraction. Explore the potential of robotics in the oil and gas industry, alongside the challenges and solutions for integrating this advancing technology. The guide provides a variety of enlightening statistics. Did you know, for instance, that the market size of the robotic process automation (RPA) industry is expected to reach $3.97 billion by 2025? Furthermore, it is anticipated that the oil and gas industry has the potential to save up to $100 billion annually by adopting digital technologies such as robotic automation.
Potential of Robotics in Oil and Gas Extraction
The automation of oil and gas extraction processes has the capability to revolutionize the industry. Robotics can provide several benefits such as increased efficiency and cost-efficiency, as well as improved safety conditions. Industry experts suggest that by 2030, about half of all drilling activities could be fully automated, reducing drilling costs by up to 30%. In addition, research projects an annual value of digital technologies, including robot-led automation, of up to $1 trillion in the industry.
Challenges of Adopting Robotic Automation
While the benefits of integrating robotics in oil and gas extraction are clear, there also are challenges to overcome. The complexity of tasks and harsh environment conditions in this sector call for reliable and rugged robotic systems. Existing mechanical issues, such as high service and maintenance costs, can further inhibit the adoption of these systems. According to a 2019 survey, nearly 50% of industry executives identified high implementation costs as the top barrier to adopting digital technologies, including robotic automation.
Solutions for Overcoming Challenges
Companies like 3Laws Robotics aim to overcome industry challenges and pave the path for wider adoption of robotic automation in oil and gas extraction. 3Laws is developing innovative software that enhances the safety and reliability of robotic systems. The primary focus of the company is addressing certification issues, identified by a 2018 study as a significant pain point for robotics companies. 3Laws’ software, 3Laws Supervisor, built on Control Barrier Functions (CBFs), aims to simplify this process by offering robust safety features and evidence of system robustness.
Key Takeaways
- The market size of the robotic process automation (RPA) industry is expected to reach $3.97 billion by 2025.
- By 2030, about half of all drilling activities could be fully automated, potentially reducing drilling costs by up to 30%.
- The oil and gas industry has the potential to save up to $100 billion annually by adopting digital technologies such as robotic automation.
- Around half of industry executives see high implementation costs as a barrier to adopting digital technologies.
About 3Laws Robotics
3Laws Robotics is at the forefront of overcoming the challenges in the robotics industry. The company is developing breakthrough software solutions that seek to enhance safety and reliability in robotic systems across various industries, including oil and gas extraction. By providing real-time guardrails for autonomy stacks, 3Laws allows robots to operate at their peak capabilities while maintaining safety. The company offers 3Laws Supervisor, a software solution built on Control Barrier Functions (CBFs). This software offers robust safety features that can potentially ease the certification process for robotics companies. The adaptable technology is compatible with a wide range of platforms, including mobile robots, cars, drones, and manipulators, and could be a game-changer in the future of robotic automation in oil and gas extraction.