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Oil and gas operations refers to the many systems and processes that energy companies use every day to run their businesses. These include systems involved in well productivity, financial and operating performance measurement, asset management, health and safety management, and many others. As today’s oil and gas leaders strive to improve operational excellence, many deploy digital tools to help modernize processes, monitor and improve key business metrics, and implement new business models to ensure future growth.
Achieving operational excellence is increasingly paramount to oil and gas companies striving to maintain leadership in an industry known for its boom and bust cycles. With costs rising on multiple fronts, including exploration, equipment maintenance, contractor management and labor, the industry is under pressure to be more efficient. In response, many are counting on digital technologies like artificial intelligence (AI), remote surveillance, geospatial analytics and the cloud to transform legacy operations. Such technologies can help streamline operations by centralizing field data, generating more timely insights and simplifying workflows.