A data driven mindset is taking over the oil & gas industry

The oil & gas sector has complex operations which are far more difficult to manage compared to manufacturing units or other industries. It is a mammoth task to bring efficiency in drilling, pump readings, compiling data and also making any predictive analysis. Keeping abreast of the changes in the petroleum industry, it is becoming essential to have a data driven mindset to handle the challenges of sophisticated operations. Oil and gas production analytics is drilling information via new processes for companies to unearth data and make correct evaluation. Data gathering and using it for increasing operations and managing assets is crucial.

Let’s break down the challenges and how they have been overcome in the last few years in the industry that fuels economies of various nations.

Strong data architecture is trending

Data collection has been cumbersome in this industry for long. As other sectors are utilizing the power of data gathering to improve operations and production, the same is also seen as a necessary disruptor in oil & gas sector. Infrastructural changes have transformed the production quality. This now calls for re-alignment of processes to leverage data from the existing assets. Another motive is to constantly check the downtime in relation to heavy duty equipment in use. All these enable data to be extracted. With the help of production software the date of extraction can be more accurate. Thus, it becomes a breeding ground making transformations in various OPEX. The effect eventually cascades down to costing, efficiency, organization, and productive growth. With relation to other areas here the data can be leveraged, it has unlimited potential in the form of valued information. Oil and gas production analytics is now trending in the topline companies associated with the petroleum industry. The convergence of data unearthed form various sources is used for connectivity. In the interest of the company, an organized network can produce a strong data architecture.

Connected data helps decision makers, the most

Decision makers rely on their operation team to produce the results. With technology, the same is turning to be a boon to get legacy equipment which was unconnected until now. If dealing with data from remote facilities was an issue earlier smart software is enabling networks to produce the essential data. The new systems can now add silo processes of the drilling units even with the vendor database. The expansion of data convergence is a possibility with sharing and acting on data that emerges. Imagine, it not only gets data connected but also the human resources dealing with it. Which core areas does it offer a strength and solutions for decision makers?

  1. Keep tabs on performance of equipment and the health of the workers in the area.
  2. Behavior of the workers can also be tapped.
  3. Long term decision can be taken to take maximum advantage of the equipment.
  4. The data, past and present is useful to create a pattern for predictive analysis, which has been missing in the Oil and Gas Production Analytics for long.
  5. Customized solutions can be prepared with the help of an enabled service IT partner.

IT partnership should be a priority

As decision makers learn the power of data management and how the operations and finances can be changed, the production will soar. Get in touch with a company that can explain how oil and gas production analytics work with focus on CAPEX, OPEX, and production to expand business. The IT partner will offer:

  1. Software solutions that converge data of drilling operation, pumps and accounts.
  2. Offer training to various teams to sync and network no matter where they are located geographically.
  3. Start with the lease operation out there in the field. Devices like iPads and tablets can be used for readings and making data. It reduces paper work and it can simply be sent off to the data center for analysis.
  4. Decision makers can understand and work on performance gaps with the information presented.
  5. Operators find it easier to prepare records and volumes of wells and other parameter readings.
  6. A dashboard can be created to make operations smoother. Timely action can be taken if there are errors.
  7. System can be connected with all servers so connectivity can be implemented for all departments to know at once. New solutions can be adopted if necessary.

Lastly, the right IT partner will induce the company to use the data and not just collect it.



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