In a new era of heightened oil-price volatility, data and technology are crucial in helping operators cut costs and maximize value.This case-study “Impacting the Bottom Line” discusses the 10 real-world examples of oil and gas innovators using data for economic effect.
What does this Case-study contain?
As everybody in the oil industry knows; it’s battling against low crude prices, tougher regulations, alternative forms of fuel and power, and rising upstream costs. From China to Libya, operators in many of the major oil-producing nations are struggling to achieve break-even costs of production; and most analysts believe things will get worse before they get better.
This is why many operators are sweating every last dollar of value from their physical infrastructure just to break even on the cost of production. But there’s only so much value which can be wrung out of physical assets and the smartest operators are turning to a new kind of infrastructure to face today’s and tomorrow’s challenges. It’s called data infrastructure. And it’s this technology which relays vital information from great depths; and as a result provides 24/7 monitoring of the condition of mission-critical equipment, monitors for safety issues and much else.
But important as this information is operators are drowning in fragmented, critical, time-series data; which is pouring out of multiple and diverse systems that don’t talk to each other. Above all, the burning imperative now is how to harness all this vital information and convert it to data you can use.
How Does this Whitepaper Help?
The OSIsoft PI System does this—and it’s been doing it for years. The PI System provides a platform that converts an ever-mounting deluge of data into a coherent whole. This allows operators to save money, meet regulatory requirements and improve safety. Some E&P users of the PI System have cut barrels of oil equivalent per day (boe/d) costs by up to 2-5% while others have cut their controllable margin in logistics by 1-5%. In the hard-hit North Sea, some operators have halved average unit operating costs in the last two years; from $29.70 per barrel ($/b) to $15.30/b.
In this paper you’ll find enlightening case studies of what PI System can do.
What is PI System?
The PI system is a platform on which hundreds of data-driven applications and services can be mounted. It provides executives with the certainty they need to make commercial decisions.
Why you should Download Impacting the bottom line!
OSIsoft, a global leader in operational intelligence, delivers an open enterprise infrastructure to connect sensor-based data, operations, and people to enable real-time and actionable insights. As the maker of the PI System, OSIsoft empowers companies across a range of industries in activities such as exploration, extraction, production, generation, process and discrete manufacturing, distribution, and services to leverage streaming data to optimize and enrich their businesses. For over thirty years, OSIsoft customers have embraced the PI System to deliver process, quality, energy, regulatory compliance, safety, security, and asset health improvements across their operations.
Download this case-study now and benefit your organization’s bottom line with the insights from this case-study.
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