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.

LLCBuddy editorial team did hours of research, collected all important statistics on Oil and Gas Asset Management, and shared those on this page. Our editorial team proofread these to make the data as accurate as possible. We believe you don’t need to check any other resources on the web for the same. You should get everything here only 🙂

Are you planning to form an LLC? Maybe for educational purposes, business research, or personal curiosity, whatever the reason is – it’s always a good idea to gather more information about tech topics like this.

How much of an impact will Oil and Gas Asset Management Statistics have on your day-to-day? or the day-to-day of your LLC Business? How much does it matter directly or indirectly? You should get answers to all your questions here.

Please read the page carefully and don’t miss any words.

Top Oil and Gas Asset Management Statistics 2023

☰ Use “CTRL+F” to quickly find statistics. There are total 9 Oil And Gas Asset Management Statistics on this page 🙂

---

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]

Also Read

How Useful is Oil and Gas Asset Management

One of the key benefits of oil and gas asset management is cost savings. By effectively tracking and monitoring assets, companies can identify areas where costs can be reduced and efficiency improved. This can result in significant savings for firms, especially in a sector where margins can be thin and costs can escalate quickly. Asset management systems can help companies avoid unnecessary spending on maintenance, repairs, and replacement of assets, thereby improving the overall bottom line.

Another important aspect of oil and gas asset management is risk reduction. The proper management of assets can help companies identify and address potential risks before they escalate into major issues. By monitoring the condition and performance of assets, companies can proactively address maintenance and repair needs, reducing the likelihood of costly downtime or regulatory fines. Asset management systems can also help companies adhere to regulatory requirements and environmental standards, reducing the risk of non-compliance and associated penalties.

Additionally, oil and gas asset management can help companies optimize their production levels. By effectively monitoring asset performance, companies can identify opportunities for increasing production, reducing downtime, and improving overall operational efficiency. This can result in increased profitability for firms in a sector where margins can be highly dependent on production volumes. Asset management systems can help companies make informed decisions about asset utilization, maintenance schedules, and overall operational strategies, leading to improved performance and profitability.

Moreover, oil and gas asset management can also help companies maintain a competitive edge in the market. By effectively managing assets, companies can differentiate themselves from competitors and attract investors and customers who value operational excellence and efficiency. Asset management systems can help companies demonstrate their operational prowess and commitment to sustainability, which can be key differentiators in a market where environmental, social, and governance (ESG) factors are increasingly important to stakeholders.

Overall, oil and gas asset management is a critical aspect of ensuring the success and sustainability of companies in this sector. By effectively tracking, monitoring, and optimizing assets, companies can realize cost savings, reduce risks, optimize production levels, and maintain a competitive edge in the market. As the global demand for oil and gas continues to increase, effective asset management will be a key differentiator for companies seeking to thrive in this highly competitive sector.

Reference

---

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