Gas Compression Magazine

December 2018

Issue link: https://www.digitalgcm.com/i/1056908

Contents of this Issue

Navigation

Page 19 of 51

I n the oil and gas industry, pressure can ramp-up twofold HYVMRKTIEOXMQIWERHGSQTERMIWQYWX½KYVISYXLS[XS maximize extraction to optimize return. Employees are a vital component for business success, and capital assets are crucial to daily operations, but companies often struggle to hire skilled workers or deploy assets at short notice to ensure they are STIVEXMRKVIPMEFP]ERHEXQE\MQYQIJ½GMIRG]HYVMRKLIEZMIV duty cycles. Individual equipment components may last 25 years or more, but during slow times a rig may be idle for a year, two years, or even longer. Deactivation and reactivation of equipment carry hefty price tags, and the equipment is not worth much from a resale perspective on the open market. FINDING THE BALANCE 8SQEMRXEMRXLIMVJSSXMRKHYVMRKXLIWI[MPH¾YGXYEXMSRWMR price and demand, companies in the oil and gas industry need XSFEPERGIERYQFIVSJMRXIVHITIRHIRXJEGXSVWJVSQTVS½XEFMP- ity and revenue to performance and operations — those that can't will struggle to remain in business for long. Asset maintenance systems comprise the heart of opera- tions, maintaining assets and providing a full view of operating costs. However, asset-focused systems don't always cover the company's other main assets — its employees — and compli- ERGI,6ERH½RERGIEVIYWYEPP]WMPSIHSJJMRWITEVEXIWSJX[EVI platforms. Establishing balance across these different parts of the business is essential, and here's why a comprehensive en- terprise resource planning (ERP) platform that encompasses as many of these disciplines and functions as possible is key. OUTSIDE INFLUENCERS TIPPING THE SCALES Even when executives have full visibility and control over inter- nal processes, there are always elements outside the organization that have an impact on the business and must be accounted for in management decisions. Commodity price and various economic indicators can provide insight into where price and therefore de- mand are headed. Oil and gas executives need the ability to pull all of these factors together from multiple enterprise software products, along with information from external data sources on a real-time basis. And this is exactly what a higher class of soft- ware, operational intelligence, can provide. DEFINING OPERATIONAL INTELLIGENCE … And It's Not Business Intelligence (BI) Decisions in the oil and gas industry are often supported by standard business intelligence tools. These tools are not up to the unique task faced by the industry. They do a great job of displaying information from published data cubes, but they rely on third-party applications and manual implementation to pull information from multiple sources in an intelligent way. They will not compare directly to goals and business processes. And, while they may generate an attractive visual representation of individual metrics, they are not designed to act on that informa- tion by pushing down or even automating decisions. gascompressionmagazine.com | DECEMBER 2018 18 OPERATIONAL INTELLIGENCE AND FLUCTUATING COMMODITY PRICES PREPARING FOR THE OIL AND GAS UPSWING BY CHARLES RATHMANN

Articles in this issue

Links on this page

Archives of this issue

view archives of Gas Compression Magazine - December 2018