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Impacting The Bottom Line
10 real-world examples of oil and gas innovators using data for economic effect
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In a new era of heightened oil-price volatility, data and technology are crucial in helping operators cut costs and maximise value.
As everybody in the oil industry knows, it’s battling against low crude prices, tougher regulations, alternative forms of fuel and power, and rising upstream costs. From China to Libya, operators in many of the major oil-producing nations are struggling to achieve breakeven costs of production and most analysts believe things will get worse before they get better.
This is why many operators are sweating every last dollar of value from their physical infrastructure just to break even on the cost of production. But there’s only so much value which can be wrung out of physical assets and the smartest operators are turning to a new kind of infrastructure to face today’s and tomorrow’s challenges. It’s called data infrastructure. And it’s this technology which relays vital information from great depths, provides 24/7 monitoring of the condition of mission-critical equipment, monitors for safety issues and much else.
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