How Internet of Things is Making its Way in the Oil and Gas Industry
IoT (Internet of Things) is a ground-breaking technology with applications across every industry type. OQ Tech.Space (OQ Technology), a disruptive and innovative startup based out of Luxembourg, uses infrastructure from outer space to leverage the power of IoT for applications across the oil and gas sector. In this interview, Omar Qaise, founder, and CEO at OQ Technology shares his thoughts on how IoT is making its way in the oil and gas sector and how OQ is delivering smart solutions to its clients.
How did Oqtec start? Tell us the story.
The objective of the company is to disrupt the connectivity sector of the Oil & Gas industry. OQ Technology is developing the world’s first universal plug & play IoT device that can provide ubiquitous, low cost, and low complexity connectivity anywhere in the world by leveraging on scalable satellite infrastructure, terrestrial compatible wireless technology, and integrated ICT platform.
Our business proposition is to use satellite infrastructure to extend the reach of the emerging terrestrial IoT (Internet of Things) networks to remote and sparsely populated areas that would otherwise remain unconnected to the Internet.
What are some of the exciting projects you’ve worked on or are currently working on? Tell us about them.
We have developed a new wireless IoT technology and are currently building a global satellite constellation network dedicated to IoT applications. This should allow data accessibility from anywhere, including remote and rural areas. Also, we are preparing our first demonstration satellite to be launched next year.
How does OQ use technology to deliver innovative solutions?
Our technology helps companies to reduce the capital expenditure and operational expenditure because of our 3LC strategy – low complexity, low cost and low consumption. Our wireless technology is compatible with the existing standards, this allows customers to integrate their assets easily and re-use available software/hardware without incurring a high migration cost. Also, software upgrades would be done remotely and power for devices can survive for years on a battery.
How is IoT making its way in the oil and gas sector?
Internet of things, as a technology, is starting to penetrate the oil and gas sector. One of the key benefits offered by IoT is remote monitoring of plants and assets. With IoT technologies, the systems are connected to one network that can relay information back to a device such as a smartphone or a tablet that is connected to the same network. This information helps oil and gas workers to better understand how the system is performing.
Also, IoT helps improve predictive maintenance standards and improve overall management efficiency. Other uses of IoT in the oil and gas sector include real-time event-driven messaging, such as sending alerts by systems to other connected devices if they begin to fail. Pipeline monitoring is another key advantage offered by IoT technology as it enables oil and gas companies to effortlessly monitor and inspect pipelines.
What are some of your biggest challenges?
Internet of Things is a new technology trend and customers need to be educated about the benefits it can bring to them and what applications they could use. Many customers are still unaware of the value of IoT data and how to implement IoT solutions in their enterprise, and what are the best practices. Spreading this knowledge is the biggest challenge for us.
Why did you choose a .SPACE domain? How is it helping you develop a unique online brand?
We are a telecommunication company that utilizes space infrastructure for serving its customers – this is where .SPACE came in. Besides, we are an innovative startup and want to be different as we ride the latest wave of trends in the startup world. Since we move and adapt quickly, it is in our DNA to be different from big elephant corporates, and opting for a distinctive, relevant domain name did just that for us!