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Improving Operational Efficiency Through Digitalisation

To meet production demands sustainably, safely, and cost effectively, the oil and gas industry is constantly developing operational efficiency initiatives.

The launchpad for achieving these is digitalisation, which optimises everything from site safety and data processing to remote inspections and project management.

Key fact: Digital tools can reduce operational and capital expenditures in offshore operations by 20-25%

Managing an oilfield requires real-time analytics gathered from various sources. Automated data processing using electronic sensors and AI-powered technology is instrumental in collating data in one place so that it can be analysed more easily.

Additionally, project management software optimises the utilisation of resources, tracks CAPEX, and monitors site safety and equipment performance. This is essential in identifying opportunities for optimisation, like fuel consumption.

Key fact: Advanced analytics can increase drilling speeds by up to 25% and reduce associated emissions 10%

Remote inspections of offshore sites challenges operational efficiency because sending engineers to remote locations is time consuming, costly, and hazardous.

Instead, wireless monitoring systems and drone-enabled solutions can be used to send real-time data to onshore personnel, ensuring the ongoing health of critical assets and avoiding unexpected repairs, fatal accidents, and periods of downtime.

Benefits

  • Lower operating costs

  • Improved site safety

  • Higher productivity

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