Oil and gas companies depend upon their CIOs to point out them the way forward as the horizon of technology expands, creating opportunities for increased efficiency and revenues in operational management.
FREMONT, CA: New technologies possess the potential to help oil and gas companies restructure extensive facilities and drive up efficiency. The opportunities that evolving technological solutions have created for the world are unmatched. But, the effectiveness of transformations depends on the proper adoption strategy, making the role of technology leaders like CIOs extremely critical. CIOs have the expertise and knowledge to determine the technical requirements across upstream, downstream as well as midstream channels. With the right approach and an IT strategy that aligns well across complex business models, CIOs can empower oil and gas companies to grow technological capabilities and convert legacy processes into highly efficient and loss-proof entities.
A good IT strategy also strengthens oil and gas companies’ ability to make facilities safer for workers and stay compliant to complicated regulatory norms. The scope of modernizing IT in oil and gas firm is substantial, and this article talks about how CIOs can take an effective lead in planning and implementing best-fit technologies into plants, processes and sales.
• Upgrade technology, upgrade talent pools
Start with the digitization of the systems. Creating this strategy requires extensive use of data and proactive planning with sufficient amount of foresight. A staged approach where technology is customized to deliver value to grease and gas companies is important. Simultaneously, a workforce upgrade is also necessary. Without the right set of skills, companies cannot implement IT solutions.
• Filter through technology vendors
The market today offers oil and gas companies with multiple options when it involves technology vendors. The abundance of options often leads to confusion and CIOs have the job of sorting through service providers to choose the most appropriate ones. While the right choice of vendors enables rapid digitalization, the wrong decisions can easily become liabilities. Thus, picking technology vendors is a crucial step in the journey towards digitalization.
• Adopt IoT and Data Analytics for upstream, downstream and midstream processes
When it comes to the application of technology to core processes, there is a multitude of possibilities of which CIOs can take advantage. The prospering IoT technology has been found to be very impactful according to the early adopter. With further advancement, smart sensors are expected to find their way into upstream asset and operation management solutions, giving operators enhanced visibility into critical processes. Data analytics technologies complement IoT technology by providing the data-processing prowess with which operators gain real-time insights into working systems. Similarly, IoT and analytics enable better orchestration of midstream processes and apparatus. Ultimately, CIOs can also count on analytics-driven solutions to build better sales and marketing capabilities that are intelligence-driven and accurate.
• Add value with advanced training
Innovative IT solutions can effectively train the changing ecosystems to the employees and management efficiently. AR and VR visualizations make training immersive and comprehensive. When oil and gas companies utilize AR and VR technology, training workers becomes easier and faster. The trainees benefit from using virtual machines before having to work on actual machinery.
Robust IT infrastructure can support and drive the expansion and expansion of oil and gas companies. With powerful technologies, CIOs enable operators to achieve new levels of optimization and develop comprehensive capabilities that extend the boundaries of revenue, safety and innovations.
See also: Top Energy Tech Solution Companies