Oil and Gas Asset Management Statistics

Oil and Gas Asset Management Statistics 2023: Facts about Oil and Gas Asset Management outlines the context of what’s happening in the tech world.

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Top Oil and Gas Asset Management Statistics 2023

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Oil And Gas Asset Management “Latest” Statistics

• Getac F110’s innovative electronic mustering procedure provides a quicker, more effective, and more trustworthy means to count individuals than the techniques that were previously employed, leading to 25% faster muster times.^[1]
• Revenue from one Anglo-Dutch corporation, royal dutch shell, is now equal to 84% of the Netherlands’ GDP.^[2]
• About 14% of the world’s gas production and 74% of Russia’s gas production are carried out by Gazprom.^[2]
• Exhibiting considerable development potential. Total is expected to expand its output by 9% in 2019 after growing its production by 8% in 2018.^[2]
• Saudi Aramco claims that since its first crude oil export in 1939, it currently accounts for 12% of global output or one out of every eight barrels of oil produced worldwide.^[2]
• 20.5 million barrels of petroleum a day in 2018 is over 7.5 billion barrels over the course of a year and 22% of the world’s total petroleum consumption.^[2]
• Sinopec is the largest oil company in Beijing, with $377 billion in annual revenue.^[2]
• Limiting emissions to a maximum of 25%, discover how the motor oil group transformed into a digitally focused, integrated energy giant that provides a superior customer experience.^[3]
• According to industry norms, an organization may save around 10%-30% of its operational costs with a good asset management plan.^[4]

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How Useful is Oil and Gas Asset Management

Asset management in the oil and gas industry involves the supervision of exploration, production, transportation, and distribution processes. This oversight is crucial in ensuring that every stage of the oil and gas supply chain operates efficiently and effectively. With fluctuating market conditions and environmental concerns, the need for competent asset management has become increasingly apparent.

One key aspect of oil and gas asset management is the optimization of resources. By carefully monitoring production levels, consumption patterns, and market trends, asset managers can maximize profitability while minimizing waste. This strategic approach ensures that companies can maintain a competitive edge in an ever-evolving industry.

Furthermore, effective asset management can lead to improved safety measures. Oil and gas extraction is inherently risky, but by implementing stringent safety protocols and regular inspections, asset managers can reduce the likelihood of accidents and environmental disasters. This commitment to safety not only protects workers and the environment but also safeguards the long-term viability of the company.

Asset management also plays a crucial role in sustainability efforts. With society’s growing awareness of climate change and the environmental impacts of fossil fuel consumption, oil and gas companies are under increasing pressure to operate in a more environmentally responsible manner. Asset managers can help companies identify opportunities for reducing greenhouse gas emissions, implementing renewable energy initiatives, and promoting eco-friendly practices. By addressing these concerns proactively, companies can demonstrate their commitment to sustainability and build stronger relationships with stakeholders.

In addition to these benefits, oil and gas asset management contributes to overall operational efficiency. By streamlining processes, improving data management, and implementing technological innovations, asset managers can help companies operate more smoothly and profitably. This attention to detail not only saves time and money but also enhances the company’s reputation and standing in the industry.

Overall, oil and gas asset management is an indispensable component of the energy sector. By overseeing the management of valuable resources, ensuring safety and sustainability, and optimizing operations, asset managers play a vital role in ensuring the long-term success of oil and gas companies. Their expertise and dedication are crucial in navigating the complexities of the industry and driving growth and innovation.

As the energy landscape continues to evolve, the importance of oil and gas asset management will only grow. By recognizing the value of competent asset management and investing in the necessary resources and expertise, companies can position themselves for success in an ever-changing market. Ultimately, effective asset management is not just useful – it is essential for the continued viability and prosperity of the oil and gas industry.

Reference

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1. getac – https://www.getac.com/us/industries/oil-gas/
2. oilandgasiq – https://www.oilandgasiq.com/strategy-management-and-information/articles/oil-and-gas-companies
3. sap – https://www.sap.com/industries/oil-gas.html
4. tcs – https://www.tcs.com/blogs/predictive-asset-management-in-the-oil-and-gas-industry