Digital transformation in the oil and gas industry
Effective efficiency
Efficient digital transformation in the oil and gas industry is vital. For sustainability, longevity and flexibility, digital transformation is how the industry will keep afloat.
Operators are constantly on the hunt for digital transformation and a competitive edge. To produce hydrocarbons as cost-effectively as possible, they need to find a successful solution.
This drive for efficiency has seen the industry shift towards automation that reduces human error and cuts costs. This change is particularly evident in mature plays such as the North Sea and the US onshore. Cost constraints are forcing staff to accomplish more with fewer resources in these areas.
Digital Transformation
In these circumstances, companies must choose solutions for hydrocarbon accounting (HCA). This will help to minimise the risk of error and will also improve efficiency and enhance opportunities for automation. It should also be possible to deliver oversight of a wide range of assets.
Furthermore, these assets will be delivered across a diverse set of locations. Use of open data standards is vital in supporting fast and easy integration with applications. For example, ERM, GIS, and reserves and well management, to name a few.
Digital transformation in the oil and gas industry is the way to move beyond what’s been slowing the industry down. However, traditional HCA solutions fail to deliver on any of these requirements. They are expensive, difficult to use and slow to implement. They are a drag on the business and create problems rather than providing a solution.
What cloud computing delivers
Programmers, database administrators, and infrastructure teams spend countless man-hours on legacy HCA solutions. This time could be far better spent on projects and goals that will drive the business forward.
Determining value to the overall business is key. It’s important to make the most of the benefits offered by the cloud.
So, it’s vital to understand what solution works best in the long run. Otherwise, you may end up using outdated software. It’s important to consider all of your options and make an informed decision about which technology will best serve your needs.
You have to ask the right questions to truly understand the benefits delivered by cloud computing.
Will the results you receive are accurate or even perfect? Would the system increase efficiency or improve business agility. Will the organisation support business processes long-term or will project management be clear and concise? Odds are that you said ‘no’ to all these initial questions.
The growth of cloud-based computing is revolutionising the way oil and gas companies now do business. EnergySys is ensuring that HCA is leading this charge. Flexibility replaces rigidity. Maximising efficiency and dramatically increasing productivity.
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