What is the importance of software in the oil industry in 2024?
Despite the intense crisis experienced in 2019 due to the coronavirus, the oil industry has
undergone a notable resurgence in 2024. According to studies from the World Bank (2024), the demand for oil has seen a significant increase in the third quarter of 2021, particularly following the easing of lockdown measures, especially in Europe. Currently, global demand is only 3% below the pre-pandemic peak levels. A robust recovery is evident in China, where current demand surpasses pre-pandemic levels by more than 10%.
Despite this resurgence, companies in the oil industry acknowledge the need to incorporate data digitization technologies to optimize decision-making processes and generate greater value. The oil and gas sector is immersed in the so-called “fourth industrial revolution,” where the advent of alternative energies imposes new conditions, demanding technological transformation and the digitization of production processes.
Why is it important?
1. Historical Information: It is essential for an oil company to use software to retain historical information for several crucial reasons. The ability to access and analyze past data enables more informed strategic decision-making in areas such as oil exploration, extraction, and distribution. Furthermore, it facilitates long-term planning by understanding patterns and trends, enhances operational efficiency by providing quick access to historical data, and contributes to regulatory compliance, especially in environmental and safety areas. The retention of historical information is also pivotal for performance analysis, risk assessment, and serves as a foundation for technological innovation, acting as a platform to test and validate new solutions. Collectively, this practice ensures more effective management and strategic decision-making in the oil industry.
2. Obtain Real-time Information: It is paramount for a company in the oil and gas industry to leverage specialized software, as it plays a crucial role in acquiring real-time information related to wells, extractions, sales, and other essential operational data. As mentioned by the director of Tecpetrol, the industrialization of processes through software implementation has been instrumental in achieving significant changes in outcomes. This digital approach addresses specific production challenges, such as the frequent relocation of machinery, necessitating an extreme level of digitization beyond what is typically required in more traditional industries. In addition to optimizing production efficiency, the use of software facilitates precise monitoring of operations, early identification of potential issues, and informed decision-making based on real-time data. Ultimately, the integration of digital technologies not only enhances operational effectiveness but also positions the company to respond more swiftly and efficiently to evolving challenges in the sector.
3. Remote Technological Initiatives: If you’ve ever thought that integrating field-collected data with business operations data was impossible, pay close attention. In the context of technological initiatives aimed at remote operations, solutions are being implemented to integrate operational, logistical, and maintenance information into the company’s resource management systems. This data can be efficiently loaded onto mobile and portable devices through comprehensive mobile applications, enabling staff to access the necessary information for maintenance routines. These applications not only highlight key indicators but also provide details about parts that require replacement.
Furthermore, these devices offer remote access to specialists in machinery or processes,
allowing real-time guidance to collaborators on-site at industrial installations. The ability to integrate field-collected information with office data brings valuable synergy, enhancing efficiency and decision-making.
The collected information not only benefits daily operations but also fuels artificial intelligence developments, refining the application and execution of maintenance plans. This optimization results in more precise use of investments and reduces the time spent on data analysis and processing. Additionally, specialized applications leverage big data to improve geolocation accuracy and oil well productivity, providing more accurate monitoring and enabling more precise and efficient returns on investments in exploration and production.
4. Planning Corrective and Preventive Actions: It is imperative for companies in the petroleum sector to swiftly identify, analyze, and resolve incidents. With this tool, you can
implement corrective and risk prevention actions to anticipate issues and find solutions more efficiently, thanks to real-time monitoring and automated alerts in the program. This tool facilitates the simple planning, management, and execution of project logistics. Additionally, it enables you to track their development and gather relevant data to facilitate decision-making.
5. Compliance with Current Regulations: It is no secret that regulations for companies are becoming increasingly stringent. Currently, compliance with cybersecurity laws is gaining more prominence. Therefore, having software can be a significant aid in monitoring quality and business regulations. For instance, it ensures adherence to regulations applicable to the petroleum sector, such as ISO 29001 (to guarantee product quality) or ISO 14001 (to reduce environmental impact), among others. ISO 29001 combines requirements for the design, development, production, installation, and servicing of products in the oil and gas industry.
This standard, based on ISO 9001 for Quality Management, specifically applies to the oil and gas supply chain.
The primary purpose of this regulation is to prevent and reduce waste volume in organizations within this sector, thereby increasing the level of quality. Proper implementation of this standard enhances performance and risk management. As mentioned earlier, having software tailored to the needs of the petroleum industry, such as those developed by INMOV NORTH AMERICA, allows you to ensure compliance with these regulations.