Benefits Of Digitized Oil and Gas Asset Management

Learn about the benefits of digitized oil and gas asset management.

Learn about the benefits of digitized oil and gas asset management.

Oil and gas industry observers are challenging the way the industry is operating its plants and facilities, and digitized oil and gas asset management is now improving productivity and lowering costs. Continue reading to learn more about the benefits of digitized oil and gas asset management.

Profitability

With the global shock of low oil prices, there is an increased urgency for finding more innovative ways of cutting costs to sustain profitability. One way of increasing profitability is to modernize asset management so that operational data acquisition and analysis can improve. However, there are a few obstacles that get in the way of meeting this goal. First, there are large amounts of operational data available today that are not being used. Second, not enough has been invested in new ways to gather data, or in digitized, cloud-based tools that can efficiently analyze that data.

Digitization

Today’s plant managers are emphasizing great efficiency across the plant, and want to view assets as integrated systems rather than individual assets. As systems across facilities are being upgraded, the intelligent devices that make-up the systems are capable of capturing data and forwarding it to the cloud at a low price. Operators need to determine the best ways of consolidating, analyzing, and managing the asset information to reach their goal of converting the asset management data into actionable plans that improve productivity and lower costs.

Openness

Openness is an enabler of a more powerful asset management, but a lack of openness in existing systems can place limits on the benefits of optimized asset management. Most of the Oil and Gas industry asset installed base includes proprietary hardware and software systems that are typically sourced from various vendors. However, operators can’t afford the inefficiency of having to go back to these separate technology providers every time they want to change parameters within their systems. The data gathering and analytics must work across all assets, regardless of the brand of hardware.

New Tools

Digitization allows for new data access, and operators will soon be receiving information that others don’t currently have. This will result in being able to perform deeper analytics around energy efficiency and plant productivity, which will then drive higher profitability.

Schneider Electric is enabling these developments by introducing open solutions and architectures that enrich the value of data. For example, EcoStruxure Profit Advisor software collects real-time data from assets across a facility and links that data to an ERP system. The software EcoStruxure Asset Advisor allows operators to anticipate and address asset performance issues before they become serious incidents. This is extremely helpful for mitigating safety risks, avoiding unplanned downtown, and reducing expensive maintenance services.

CONTACT CRITICAL SYSTEMS TODAY!

At Critical Systems, the people come first, from our employees to our customers. We strive to attract and develop the best talent in the business. Our goal is to deliver innovative solutions for the purpose of making every building secure, efficient, and effectively managed. Serving the Washington D.C., Northern Virginia, and Baltimore regions, SEBCSI provides innovative solutions for your commercial building or facility. Visit our website and follow us on Facebook, Twitter, Instagram, and LinkedIn today! If you’re looking for more information or interested in working with us on your next project, please contact us!

This entry was posted on Monday, April 8th, 2019 at 9:18 am. Both comments and pings are currently closed.

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