Efficiency is vital in the oil and gas industry, and operators are constantly on the hunt for a competitive edge as they seek to produce hydrocarbons as cost-effectively as possible. 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, where cost constraints are such that more and more must be done with fewer and fewer staff. Continue reading “Digital Transformation in Hydrocarbon Accounting”
People often ask me how our cloud service for production data management, production reporting and production allocation is different from traditional solutions. This is a hard question to answer, as I want to describe the distinct values of my product and company without seeming to denigrate the competition.
EnergySys will be speaking at the ECIM E&P Data Management and IM Conference in Haugesund, Norway on Tuesday 17th September.
In a recent survey we carried out, (download the report here), we asked professionals involved in Hydrocarbon Accounting (HCA) how confident they were in their data. Around 65% said that they were “not at all” or only “somewhat” confident in the data they were using as input to the hydrocarbon allocation process. This situation is problematic, given that allocation is all about determining the division of ownership of hydrocarbon products, and that mistakes can have a real and substantial financial impact. Inadequate systems and processes can make it difficult to manage routine issues like mismeasurements, and initially small problems can give rise to a cascade effect with consequences that are difficult to unravel. A failure of compliance is not the least of the potential problems.