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]

Also Read

How Useful is Oil and Gas Asset Management

Asset management in the oil and gas sector involves the identification, categorization, and optimization of assets such as oil fields, wells, pipelines, refineries, and storage facilities. These assets represent a significant investment for energy companies, and proper management is essential to maximize returns and minimize risks.

One key aspect of oil and gas asset management is the monitoring and maintenance of equipment and infrastructure. Oil and gas operations rely on a vast network of machinery, pipelines, and facilities to extract, process, and transport resources. Efficient asset management ensures that these assets are properly maintained to prevent breakdowns and disruptions, which can lead to costly downtime and lost production.

Asset tracking and inventory management are also crucial in the oil and gas industry. Proper inventory management helps companies track the location and condition of assets, manage spare parts and supplies, and make informed decisions about resource allocation. In a rapidly changing market with fluctuating demand and prices, having real-time visibility into asset inventories is essential for effective planning and optimization.

Furthermore, asset management plays a critical role in risk management and compliance in the oil and gas industry. Energy companies operate in a complex regulatory environment with strict safety and environmental standards. Asset tracking and monitoring help companies ensure that assets are in compliance with regulations, prevent safety incidents, and minimize environmental impact.

Another essential aspect of oil and gas asset management is data management and analytics. Energy companies generate vast amounts of data from sensors, meters, and other monitoring devices installed in assets. This data can provide valuable insights into asset performance, operational efficiency, and predictive maintenance. By analyzing this data, companies can identify opportunities for improvement, optimize asset performance, and reduce costs.

In conclusion, oil and gas asset management is a crucial function that helps energy companies maximize the value of their assets, minimize risks, and ensure compliance with regulations. Effective asset management involves monitoring and maintaining equipment, tracking inventories, managing risks, and using data analytics to make informed decisions. By investing in robust asset management practices, oil and gas companies can enhance operational efficiency, reduce downtime, and increase profitability.

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