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Despite having many of the technologies enabled by advanced connectivity already at its disposal, the oil and gas sector has yet to realize much of connectivity’s potential—and the potential is significant. According to McKinsey's estimates, making use of advanced connectivity to optimize drilling and production throughput and improve maintenance and field operations could add up to $250 billion of value to the industry’s upstream operations by 2030. Of that value, between $160 billion and $180 billion could be realized with existing infrastructure, while an additional $70 billion could be unlocked with low-Earth orbit satellites and next-generation 5G technologies. McKinsey’s work with the oil and gas sector suggests offshore operators can reduce costs, including operational and capital expenditures, by 20 to 25% per barrel by relying on connectivity to deploy digital tools and analytics. Such a dramatic technological lift can’t come soon enough.
Usually Barium Sulfate scale with Uranium or Radium atoms substituted into the lattice structure. Can be detected downhole with a gamma ray log. Radioactive material occurring naturally in the environment including material brought to the surface during oil exploration and production. Usually Barium Sulfate scale with Uranium or Radium atoms substituted into the lattice structure. Can be detected downhole with a gamma ray log.