Oil and Gas

//Oil and Gas
Oil and Gas2019-04-28T21:12:15-04:00

Robotic Process Automation for Oil and Gas

A complex array of factors place significant and uncertain competitive pressures on oil and gas companies, regardless of where they reside in the pipeline (upstream, midstream, downstream, or integrated). Some factors, of course, are difficult to manage directly or respond to quickly, such as ongoing trade negotiations, tariffs, crude prices, rapidly shifting global demand, crude oil quality versus global consumer requirements, pipeline restrictions, and even oxygenates.

Oil and Gas RPA Process

The oil and gas industry rebounded after several years of stagnation. Many oil and gas companies have achieved positive free cash flow in 2018, due to a variety of factors (Source: International Energy Agency). These include stronger oil prices, lower interest rates, cash stockpiling, and strong merger and acquisition cross-industry consolidations.

Oil and Gas Capital Investments

Global demand for a massive influx of American oil and natural gas, in particular, coupled with low interest rates, record acquisitions, and cross-industry consolidations, puts forward-thinking oil and gas companies in a unique position to leverage digital transformation and achieve sustained competitive advantages.

How Robotic Process Automation is Impacting the Oil and Gas Industry

There has never been a better time to embrace Robotic Process Automation as a key component of digital transformation and extract maximum value from your infrastructure and technology investments.

Oil and gas companies that are efficiently integrated are agile, responsive, and have real-time data that enables them to maximize both productivity and profitability.

These seemingly different business activities naturally require specialized and dedicated resources to manage, and there are many stand-alone upstream, midstream and downstream oil and gas operators. However, integrated oil and gas companies with both upstream and downstream operations are still a major force within the oil and gas industry. Investopedia – Integrated Oil and Gas Company

Robotic Process Automation is being heavily adopted in the Oil and Gas industry because RPA platforms are specifically designed to deploy bots that can execute manual (attended) processes, automated (unattended) processes, and combined (hybrid) processes.

Upstream Robotic Process Automation

Modern platforms have gone through significant changes to meet the demand for flexible, efficient, and reliable drilling options. Pad drilling, like hydraulic fracturing and horizontal drilling, is one of the most influential innovations to hit the oil and natural gas industry in recent years. It’s become the gold standard for efficient drilling operations and will continue in particular to dominate the drilling landscape wherever unconventional multi-well pads are used, especially in shale-rich deposits. The advent of multi-well pad capable drilling has brought with it much more complex configure and fit to purpose demands being placed on oilfield drilling and services providers.

Oilfield services providers are especially keen to “get it right before you drill”, since the high concentration of complex, hi spec rigs across the entire pad layout, coupled with advanced rig walking requirements, leaves little room for error. In such an environment, improved sales and rental processes directly impact and improve productivity at the wellhead. Real-time integration with complex inventories and field level asset management also equates to better forecasting across the entire spectrum of production revenue accounting, resource allocation, and joint venture accounting.

Oil and Gas RPA Resources

2019-04-22T16:17:01-04:00

Seventy Seven Energy: Streamlined Sales Process with Real-Time Inventory

Seventy Seven Energy uses Clear Software to provide a single web page where their sales team can accurately rent custom configured oil rigs and equipment to their customers, regardless of complexity, in less than 5 minutes. This significantly increases productivity, resulting in higher revenues and profits.

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