Drones set to “revolutionize” oil & gas data collection – study

“The usage of drones would literally astonish the industry with its capability to get as much data available in the last 30 years within 45 minutes.” – report

Altex Energy neatbit by rail facility shot by drone. Photo: Altex/Randy Meyer.

Drones, small unmanned aerial craft capable of carrying cameras and sensors, are set to revolutionize oil and gas data collection, according to a new report from Research and Markets.

The global oil & gas drones market has been estimated at USD 609 million in 2014 and is projected to reach USD 4 billion by 2020, at a CAGR of 37.07 per cent during the forecast period from 2014 to 2020.

The view from 50,000 feet shows signs of drones, or unmanned aerial planes, poised to become the next major disruption to influence the oil and gas industry.

Drones offer all sorts of applications that the oil & gas industry can use.

Drones allow the oil and gas companies to monitor pipelines, roads, storage tanks, buildings, bridges, and power lines.

They also equip the oil & gas industry to carryout flare stack inspections, off- and on-shore oil derrick inspections, tailings pond inspections, oil spill detection and damage assessment and gas emissions monitoring.

Drones can be a “revolutionary” technology to lower costs for the oil and gas industry, already facing a significant decline in oil prices.

The use of drones may allow the industry “to get as much data available in the last 30 years within 45 minutes.”

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