The oil and gas (O&G) industry is slowly adopting new software and cloud technologies for oilfield instrumentation and in the back office to help streamline and automate processes. Throughout the well life cycle (WLC), during crude oil transportation, and up to the gas pump, energy companies are utilizing technology to improve efficiency, track inventory and to store historical data among other things. Unfortunately, the energy industry is a major target for hackers, especially businesses with outdated infrastructure. Here’s why new oilfield software technology is the key to securing business information and ensuring oil is not stolen during transportation.

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The recent merger between General Electric Co. (GE) and Baker Hughes is sparking up many conversations about technology in the oil and gas (O&G) industry. The first and simplest question being asked is, “why?” GE already has an O&G division and Baker Hughes alone is one of the world’s largest O&G services company. GE Chief Executive Officer, Jeffrey Immelt, said in this Bloomberg article that the merger creates “a diversified portfolio that can weather the cycles better than anybody.” Aside from creating the second biggest O&G service company next to Halliburton, the technology that will be shared between both entities is a major aspect of the deal. Here’s how the mega merger validates the need to improve oilfield technology.

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