In the last few years, accusatory fingers have been leveled towards the global energy sector for abusing natural resources of the planet. But oil and gas continue being essential reserves to the exponential growth and development. As a conservative estimate, environmentally conscious exploration companies in the Texas belt have made the effort to go green in alternative ways. Reducing paper work with field service software for procurement is one of the best practices being implemented across upstream enterprises in North America.
This blog explains how procurement challenges can be reduced with paperless strategies. At the same time mobility and apps aid in building an organized field service history. Going green enhances the legitimate process of oil production.
Overview of the Challenges That E & P Companies Face:
Everything eventually boils down to finances and the balance sheet when it comes to profit visibility. After the slump in 2016 and several bankruptcies, E & P companies that survived enjoy a major task at hand to maintain business equilibrium. The most daunting challenges accompany procurements as they are the bulk of investment in the initial stages of drilling projects.
Presented below are 2 scales that shape contemporary trends of using field service software. They will re-align operations for the new drilling project in case your company is in the pre-planning stage. It can be earmarked for methods of mud logging, applications for solid waste management, fluid systems, cementing, and drill bits. These questions will bring an order and method to the next crucial project.
Solutions to Overcome Challenges:
It is very clear that new extraction technologies will have to be implemented to overcome challenges. They cover activities related to exploration, drilling procedures, and post production. As one initiates the modern practices for paperless work, its usefulness can be determined in acquisitions of seismic zones, survey, preparation of design and modeling, and geophysical processing software.
The requirement begins with:
1. The continuous identification of source destinations - Most variables and consumables will need supply forecasting and engaging the best service providers for oil field apps and software.
2. There are oil fields across the US coast where supply chains may not be functional. Mapping important needs of the operators and basins in which they work will provide insights on risks the company can take with diverse suppliers. Service apps that provide information on the rig sites can be explored to reduce hazards that affect field staff.
3. Each oil extraction company needs a customized operational model with a benchmark, a re-construction of cost analysis and gain competitive intelligence to stay on par with industry’s leading players.
4. The re-structured model should ensure that the supply management remains a continuous process. It will depend on accurate sourcing, contract management, and analysis for choosing the most competitive vendors.
5. Operational efficiencies can be supported with software designed specifically for complying with global environmental standards.
If you run an upstream company these requirements will fulfill other aspects of seismic zones like unconventional resources, micro services. In the case of drilling it will offer real-time analysis and support engineering needs. Experts can tap other aspects like systems that work virtually, LWD/MWD, and usage of products and tools meant for drilling in specific zones.
Sparing Trees Is Not The Sole Objective:
When you go paperless much more than the forest trees are saved in the oil field locations. The digital transformation makes it straightforward to pull out old records from the archives for examining the patterns of operations. An organized service history represents a part of the efficient system and is definitely a new mantra that is ready for adoption. It saves so much time for everyone. The technicians are able to increase on-field efficiency. When an exploration project is on, it keeps the supply chain serviceable for any eventuality. To boost the chances of better co-ordination between operators, admin, resources and corporate headquarters, deploy a very integrated strategy to go green.
The time has come when upstream companies will have to indicate their intent in sustaining the environment. There is no excuse for not embracing paperless technologies in various departments. The US government continues monitoring the exploration and oil production processes in the country. Strict and increased regulations also come flying in to curb activities that hurt the ecosystem. Getting re-structured and organized will have to become a new mantra for continued business. Should you need service providers that cater to the needs of E & P companies and provide software solutions, begin your search in the pre-planning stage. Only you can stop the accusatory fingers from putting you out of business. Save your existing assets, supply chains, and enjoy a beneficial relationship with stakeholders.