Energy powers our world. Energy is light and heat and cooling, food and water, work and play... Wherever we get the energy — from windmills on land or oil rigs at sea — energy powers your life.
Four million people work in energy production around the world. Energy production is a trillion- dollar business that is famous for its booms and busts. In June of 2014, a barrel of oil cost $107. Only six years later, during the global pandemic, that barrel was worth just $35 — now the cost of oil has leaped upwards once again.
The world still depends on fossil fuels for 80% of global energy needs. The companies that make their living supplying those needs were hit hard in the downturn as profits turned to massive losses. Jobs and budgets were slashed. They cut jobs and budgets. In spite of these actions, the companies knew they also needed to continue producing energy — and find less expensive and better ways to manage those crucial tasks.
From Picks + Shovels To Data
Today, an industry that started with picks and shovels in the 1800s is all about data, data that is derived from seismic studies, from sensors down a well and in every section of the operation.
Rigs in dozens of places are tied together by data networks, so that operators in central control centers can help solve problems. That allows them to produce energy less expensively and with less impact on the environment. As companies struggled through the downturn caused by the pandemic, this advanced technology became the key to company survival.
To carry their data, oil and gas companies turned to satellite. This was because energy companies operate in remote regions as well as offshore, where they must bring their communication systems with them. They obtain satellite services from companies such as ITC Global. However, during the COVID downturn, energy companies needed far more than a satellite link.
They needed to bring new technology to their rigs for remote monitoring, predictive maintenance and troubleshooting. More technology meant much more data flowing through the network to deliver real-time insights into production. These needs all had to get done with fewer people and tighter budgets.
Adding IT To The Communications Portfolio
To meet these needs, ITC Global became their customers’ information technology partner. The company evaluated new systems that promised to deliver more data at a lower total cost and additionally managed the vendors delivering that data.
ITC Global upgraded cybersecurity systems to keep networks safe and provided tech support to bring users up to speed. For hard-working crew members, ITC Global provided the digital services that kept them connected with home and entertained them at the end of their shifts. With smaller crews staying longer at the wellhead, these important services became ‘must have’ requirements Innovations such as these kept energy companies in business and energy workers on the job. Keeping the energy flowing helped the world’s economy get back on its feet after the worst public health crisis in nearly a century.
Today, there’s a lot more to satellite than spacecraft in the sky and antennas on the ground. There are solutions for the biggest challenges we face, whether it’s running a gas well or a solar farm.
There are new ways to keep the energy flowing – the energy that powers our world and powers your life.
Produced for SatNews by Space & Satellite Professionals International. Read more stories and Produced for SatNews by Space & Satellite Professionals International. Read more sto watch videos of satellite making a better world at www.bettersatelliteworld.com.