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How Oil & Gas firms can use digital innovation to their advantage

13 April, 2022

There is an increasing expectation that Oil & Gas firms can demonstrate their value and efficiency through more data-centric processes. The ability to manage costs and react quickly to market conditions is what will give your firm a competitive advantage in the future. The sector has typically been slow to adopt innovation and new, more efficient ways of working. This means that there are new technologies available that you're not yet taking advantage of which can help improve agility, revolutionise operations, and increase viability when it comes to securing investment. 

 


So how can Oil & Gas firms use technology to optimise business performance?

Invest in digital innovation and automation 

AI, automation, and data-driven solutions will help companies reduce costs, improve efficiency and help reduce emissions. Implementing digital innovation and a data-driven approach in the business will enhance your competitive advantage and allow you to pivot depending on industry conditions.

Projects can be seamlessly connected with the use of AI, drones, robotics, and virtual reality, so you can make better decisions about what projects to take on and where to drill. In addition, collecting and analysing data helps the business better understand production processes and the opportunities to maximise them in the future. 

Operate from an internal nerve centre 

Forward-thinking businesses are taking control where they can, and optimising factors to make them as efficient as possible. By implementing a fully digital central control tower (or nerve centre), you can increase your firm's resilience by using AI to connect and improve visibility within all business functions.

This means that daily operational processes are improved, and supply chain issues are detected and communicated early on to allow flexibility. Having a central nerve centre for communications and supply chain management also reduces the need to visit sites physically regardless of location. Inspections, project progress, and compliance can be monitored within a few clicks, lowering costs and boosting productivity. 

Improve safety with smart machinery

Introducing smart machinery and automation will enable risky operations to be automated and reduce the room for mistakes resulting in injury to staff.  For those that still require manpower, nurturing a safety-first system and checks procedure can help minimise risk. Implementing a central, transparent communication system that connects the entire company will allow firms to improve safety by ensuring that teams can monitor and report on conditions and incidents in real-time.

Introducing a central location for email and document storage 

Implementing a central cloud-based storage solution such as SharePoint into the business provides the flexibility for employees to access data and communications from any location and on any device, which is particularly advantageous for Oil & Gas firms that operate from various sites 

The benefits of an email and document management solution for the Oil & Gas industry 

A central email management system will help you improve business communications and ensure close collaboration with operators, management, investors, and other stakeholders. Much like the internal nerve centre, an email management system ensures that everyone is kept up to date with the most recent communications and developments as they happen, regardless of their location. 

Discover how Mail Manager can help your firm immediately take control of email management with a 15-day free trial, or download our eBook, "How Oil & Gas firms can reduce risks, lower costs, improve safety and increase performance".

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