The oil and gas business has high operating costs and frequently has significant difficulties due to asset, process, and operational failures. Remote monitoring and management of the oil field operations are essential to ensure efficiency and safety. Oil field operations often use SCADA or wireless sensor network (WSN)-based monitoring and control systems; both have numerous drawbacks. WSN-based systems are not uniform or are incompatible. Additionally, they lack transparent communication and coordination. SCADA systems also cost a lot, are rigid, are not scalable, and deliver data slowly. Edge computing and the Industrial Internet of Things (IIoT) help to overcome SCADA’s constraints by establishing an automated monitoring and control system for oil and gas operations that is effective, secure, affordable, and transparent. The main objective of this study is to exploit the IIOT and Edge Computing (EC). This study introduces an I2OT-EC framework with flowcharts, a simulator, and system architecture. The validity of the I2OT-EC framework is demonstrated by experimental findings and implementation with an application example to verify the research results as an additional verification and testing that proves the framework results were satisfactory. The significant increase of 12.14% in the runtime for the crude well using the proposed framework, coupled with other advantages, such as reduced operational costs, decentralization, and a dependable platform, highlights the benefits of this solution and its suitability for the automatic monitoring and control of oil field operations.