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Digitizing and innovating oil and gas operations

Published on July 25, 2019 by Elvia

Oil & Gas leads with field tech

The oil and gas industry is exemplary in terms of growth and technological advancements. How Stuff Workshighlighted impactful innovations since the industry’s birth in drilling alone, putting horizontal drilling in the number one space. This doesn’t even scratch the surface.

The industry is expected to continue growing, with gas processing alone projected to grow $214.13 billion during 2019-2023, but efficiently managing operations is also becoming more challenging. With the expected growth, the number of regulations and the degree of enforcement will also to continue to rise, including the widespread adoption of  “zero tolerance” policies. To add to that, oil and gas companies must face massive scrutiny, as well as highly publicized accidents and instances of non-compliance.

With barriers rising and bottom lines impacted, the oil and gas industry needs to fill the obvious gaps on the safety, logistics and operations side of the business. The tech and innovation behind operations need to catch up to the innovations in the field.

Operational tech is an investment

The industry has made strides because of its forward-thinking investments, establishing plants and working years ahead of time. It’s time to recognize digitization as another long-term investment, one that can yield up to $1 billion in productivity gains

Industry leaders and experts like Mckinsey & Company have been urging the adoption of tech on the logistics side for good reason: diverse industries across the globe are taking advantage of technology and analytics that have demonstrated returns.

Software can now do much of the heavy lifting in tackling compliance and regulation challenges, which is largely why many highly-regulated industries have started embracing technology.

There are many tools available for oil and gas professionals to simplify their operations and reduce the burden of scheduling, data collection, safety, compliance and more. For example, the Assignar platform empowers employees with many of the key aspects of oil and gas operations:

  • Digitized field forms and compliance documentation can easily be stored and searched for in the cloud.
  • Access crucial information from anywhere.
  • Wholistic view scheduling.
  • Based on rules set by the user, actions in the software can trigger automatic workflows and notifications.
  • Supervisors can get real-time insights into field operations and act immediately when issues arise.

These functions barely scratch the surface. Operations management software built for the industry will be robust, comprehensive, and a close companion in your business.

Rather than stacking the burden of compliance on employees, oil and gas companies need to empower them to work proactively in the highly-regulated space with the right tools.

Learn more about how you can leverage operations software in oil and gas. Request a demo today.

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