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    Digitization is Fueling Growth in the Oil and Gas Business

    Digitization is Fueling Growth in the Oil and Gas Business

    Digitization is the buzzword in the oil and gas sector as it’s seen as transformative for the future of the industry. For an industry that has been on a market rollercoaster in recent years, it is now looking to digital technologies and agile methodologies to improve operational efficiencies to underscore its future.

    Known by some as the “digitization of the oilfield,” it’s the new wave of technologies linked with big data that is transforming an established industry. For the world’s oil and gas industry, this push toward digitization is emerging as a central part of strategic planning, as the energy landscape is reshaped.

     

    Best-in-class players have met the challenges of lower prices, the need to reduce operating costs, and deal with environmental issues by implementing a digitization strategy. They have chosen to combat narrowing margins with corporate digitization programs to ensure sustainability, while enhancing efficiencies.

     

    Digitization programs are integrated with all aspects of a company’s complex organization and work flow processes. As each link in the oil and gas supply chain becomes connected, a data-driven future offers the potential for companies to not only improve their business outlook, but to anticipate and prevent problems.

     

    “Because of the volatility in the energy sector in the last couple years, oil and gas companies have been under huge pressure to reduce costs while maintaining good margins. More and more companies are investing in a digitization program for growth,” explains Lane Boisjoli, Vice President of AiM.

    The foundation of digitization lies in realigning a company’s business processes. To date, a lack of visibility and continuity between different parts of a company have siloed operations. Digitization creates a more efficient and effective flow throughout by introducing real-time transactions and analytics for greater insight and accurate decision making.

     

    A critical component in the road to digital transformation is the management of a mobile workforce with the intent to improve operational processes while ensuring consistent execution of best practices. Operational efficiencies are found in:

      • Conducting File Audits
      • Data Integrations
      • Digitization of Documents
      • Implementation of a Land and Records System
      • Mobile Notes and Virtual Logbook
      • Mobile Attachments and Annotation
      • Handwritten and Digital Signatures
      • Access to Task History, Notes, Trends
      • Peripheral Device Integrations
      • Work Request Creation
      • Sharing information with a Virtual Team
      • Access Across Devices , Mobile, Desktops

     

    Digitalization of data is invaluable, helping companies become more flexible, while providing opportunities to make fast, informed decisions. It is re-shaping business models in the oil and gas industry.” explains Boisjoli.

    A digital game changer.

     

    In an industry that will remain largely variable for the foreseeable future, technology is becoming an enormous asset for successful oil and gas companies.

     

    As John England, U.S. Oil & Gas leader, Deloitte LLP, explains: “Companies that are willing to innovate and invest can unlock tremendous value and may remain financially strong, regardless of what happens to global supply and demand trends.”

     

    More and more companies are investing in digitization as the industry is struggling with a particularly painful downturn. Their future, and the industry’s, will depend in large part on how quickly they can rewire their operations through the transformative power of digitization.

     


     

    To learn how AiM can work with you to create a digitization strategy for your company, book an appointment with Lane to discuss next steps in developing your digitization program.

    Lane-Boisjoli-VP-AiM
    AIM-Land Circle R2
    Lane Boisjoli
    Vice President

    E: lboisjoli@aimland.ca

    D : 403-648-5401
    C: 403-660-4057

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