The oil and gas market will always be subject to cyclical pressures, but the industry’s move to digital processes is changing project economics in ways that will make O&G companies less vulnerable. Most efforts over the past decade have used digital technologies to lower project cost by improving the performance and reliability of operations equipment. Less attention has been focused on digitizing O&G field crews — even though people are involved in most process inefficiencies and delays and digitizing their work is critical to achieving Industry 4.0.
Giving O&G crews the digital tools to raise their performance is an overlooked opportunity of potentially immense proportions. You can generate incremental ROI with every job you digitize. Multiply that by all the complex nested jobs within your operations — and stretching across O&G value chains.
And it isn’t that hard to start raking in the ROI. Digitizing O&G crews is “low-hanging fruit” because you can get up and running to a platform for connected industrial workers that provides mobile collaboration and workflow relatively quickly. Implementations generally take just weeks. ROI from cost and time savings flows in quickly and rises with each new operational area and job type you address. These savings can be used to fuel further digital transformation on the road to fully automated operations. In the meantime, as long as people are critical to processes, easy-to-use mobile platforms enable new workers to get up to speed faster in the field. An extra benefit, for “the great crew change” — digital & mobile platforms respond to the preference of younger workers for learning via photos, video, audio and quick feedback.
In this executive brief Parsable are outlining five specific ways of digitalizing the oil & gas crews that will deliver competitive advantage.
January 4, 2019