Oil and gas operations are poised for a breakthrough in 2022. Level up your performance this year with insights from EZ Ops latest white paper.
Find out how demand for economical production, pressure to reduce emissions, and a worsening labour shortage are all converging on operations teams.
Oil and gas producers are looking at where operations performance is falling short and costing unnecessary operations expense, production issues or ESG incidents. Many are detecting a disconnect between corporate goals and what’s happening daily in the field.
To generate more performance from upstream operations, producers are looking to technology to synthesize inputs from hardware, software and infrastructure systems to reduce the complexity of operator decisions, and streamline communication and reporting. Lessons from E&P companies who lead at operational excellence, some core success factors emerge.
Factors driving a shift in oil and gas operations:
- Increasing OPEX and operations incidents that cost production and compliance risk.
- Worsening labour shortages that increase the pressure on lean operations teams.
- Growing volumes of data and compliance tasks for operations management.
As it stands, new tools are required to guide operator decisions as retirements continue if companies want to continue lowering OPEX and proactively manage compliance.
While head office, management, and frontline field workers all play a role in operations performance, analysis of EZ Ops usage indicates 87% of the OPEX savings from operations efficiency comes from foremen and maintenance managers.
A further 7% of OPEX savings is driven from head office operations and compliance teams, while 6% comes from oil and gas frontline workers. Here is a breakdown of activities that drive the savings and explain the cross-organizational effort needed.
What usage of operations technology drives monetary savings?
How can companies make a successful shift to operational excellence?
The focus of upstream operations has shifted from developing new fields to seeking how digital solutions can improve cost efficiency, production volume, and support operations team performance.
Achieving operational excellence today’s economic and environmental environment requires three key commitments:
- Commitment from leadership
- Cross-functional team involvement
- Building operations team performance
White paper: Operational excellence through to oil and gas frontline
Learn about modern challenges on oil and gas operations and the impact of digital tools on performance.
The need for operational excellence in the oil and gas industry has never been greater. Learn why and how to best compete.
