Companies in the oil and gas industry are driven by their technology. People and processes are both essential pillars of any successful business but so is the ability to integrate and leverage new technology effectively. New developments are almost always disruptive and can be challenging to address, but embracing innovation in the workplace is a necessary mentality for business leaders who want to fuel growth and streamline key processes.
There are thousands of ways to apply new technology to any part of the oil and gas production process. While there is still plenty of room for exploration, improvement and development, there are at least a few recent trends that have the potential to transform the industry.
Priority on Cloud Computing Solutions
Cloud computing solutions were an innovation a decade ago, but their value has made them a staple in the energy industry alongside many others. While cloud systems offer numerous advantages compared to conventional networking and storage, they can present technical challenges and produce disruptions during the initial transition. Maximizing the value of cloud systems requires professional installation and maintenance, as well as training for all staff members who use it.
Software Solutions for Managing Operational Data
Gathering, managing and using information is vital for success in any industry, but it’s particularly important in logistically-demanding ones like oil and gas production. Some companies have embraced asset performance management (APM) strategies that use advanced digital tools to calculate risk, inform long-term planning and manage assets throughout the organization’s structure. Centralizing this kind of information empowers leaders with more accurate and relevant information to guide big picture decisions.
Digital Supply Chain Management
Supply chain management is one of the biggest challenges facing members of the energy industry. Companies that conduct a variety of operations or run sites in multiple locations often face many hurdles when organizing, optimizing and stabilizing their supplies. The cargo and material software solutions offered by EPS is one way that companies can leverage technology to improve all aspects of their supply chain management.
Expanded IoT Implementation
Internet of Things (IoT) technology has become established in both domestic households and commercial work sites across the United States. While this term covers a lot of ground, it generally describes a set of systems or devices joined through a local or internet connection. An effective IoT system allows devices to coordinate and communicate with one another, and allows operators to easily monitor or control these systems remotely. There are many powerful applications for this kind of technology in the energy industry, particularly in internal data collection and workplace safety.
Embracing Innovation and Technology-Driven Solutions
While EPS takes pride in our reliability and comprehensive service offering, we also know that our ability to adapt and innovate is a great asset for our clients. Many members of the oil and gas industry already face numerous challenges when it comes to maintaining a complete set of professional staff members. That’s why we offer comprehensive personnel services that include seasoned professionals who have a wide range of technical experience, including supply logistics, information technology and site management.
Technology is either a threat or an opportunity, depending on whether a company can take advantage of new developments or not. It’s not always fast or easy to incorporate new devices, systems and methods into ongoing operations, but a flexible and innovative attitude is necessary for achieving long-term growth in the face of fierce competition.