Industrial Automatic Control Systems and Controllers Annotation << Back Cost-effectiveness of Introducing Smart Technologies for Production and Raw Material Processing Automation in the Oil and Gas Industry D.A. Baybarov In recent times, the oil and gas industry has witnessed a notable downward trend in production volume. It has faced serious challenges in finding and developing new fields, analyzing a large amount of exploration data adequately, building a new reservoir model, and creating and updating enterprise databases. In addition, the depth of oil processing using various chemical methods has progressed. The aggravation of these and a number of other problems necessitates looking for new, more effective ways to their elimination. It holds the view that the application of modern digital technologies in the oil and gas industry represents an excellent resolution to all the issues above and, in the long run, is able to stimulate production profitability improvement. The ultimate goal of this work was to justify the feasibility of using smart field technology to automate the processes of production and raw material processing in the field of oil and gas. The article claims that the introduction of smart technologies will allow finding new fields quickly, forecasting oil reserves effectively, and creating more new projects for future developments. Apart from this, the utilization of smart field technology will help create an up-to-date enterprise database and save time and labor costs. In sum, such a decision will favorably influence equipment operation due to built-in control of equipment, sensors, and pipelines, as well as signalization for the planned maintenance, repair, or necessary parts replacement. In such a manner, smart technologies are believed to be a saving factor in conditions of tough competition and limited investment that enables rising the industry’s profitability. Keywords: smart field technology, oil and gas industry profi tability, economic efficiency, oil production automation. DOI: 10.25791/asu.10.2021.1313 Pp. 03-12.