Industry experts believe that oil and gas companies will invest approximately $100 billion into new technology to keep up with production over the next several years. In fact, by 2030, they could spend as much as $300 billion on investments in various technologies for this purpose. However, other studies have shown that it is equally important to consider how companies providing Wireline Services use these investments.

The following details several technologies that oilfield services companies have successfully implemented:

– Artificial lift:  This technology is used to work on wells that are not producing enough oil. It includes subsea pumps, gas lift valves, and downhole safety valves.

– Big data analytics: This technology can process large volumes of disparate information, such as mobile device signals or social media feeds. It can then be organized into useful

– Downhole wellbore sensors and acoustic telemetry: These technologies use sensors inside of wells to monitor the conditions and measure process variables such as temperature, pressure, flow rate, and fluid composition.

– RFID tags: these are tiny chips that contain information about a part or device they’re attached to. They can be used to track inventory and equipment.

– Control systems: These software programs can be used on various devices such as sensors, actuators, valves, pumps, and so forth. They allow for the automation of tasks that were previously performed manually or by human operators.

– Remotely operated vehicles (ROVs):  These unmanned submersibles can be used to inspect platforms, pipelines, and other underwater equipment.

– Rotating drill pipe: These tools allow the rotation of entire sections of the drilling string to create penetrating forces during directional drilling operations.

– Automated trucking systems (ATS): This technology is now being developed with self-driving trucks. It will allow for better routing, mapping, and monitoring of shipments to improve the efficiency of oilfield services operations

– Subsea production systems: These are submersible manifolds that can be used in offshore platforms to collect natural gas from wells on a single riser system. They can then transport it through large pipelines, which connect them with LNG plants for processing.

Unmanned aircraft systems (UAS): These aerial drones can perform various tasks such as inspections, surveys, and monitoring activities in remote locations.

– Unmanned underwater vehicles (UUV): These unmanned submersibles can perform various tasks such as inspections, surveys, and monitoring activities in remote locations.

Oilfield services companies have successfully implemented these technologies.