Oil and Gas Back Office Statistics


Steve Goldstein
Steve Goldstein
Business Formation Expert
Steve Goldstein runs LLCBuddy, helping entrepreneurs set up their LLCs easily. He offers clear guides, articles, and FAQs to simplify the process. His team keeps everything accurate and current, focusing on state rules, registered agents, and compliance. Steve’s passion for helping businesses grow makes LLCBuddy a go-to resource for starting and managing an LLC.

All Posts by Steve Goldstein →
Business Formation Expert  |   Fact Checked by Editorial Staff
Last updated: 
LLCBuddy™ offers informative content for educational purposes only, not as a substitute for professional legal or tax advice. We may earn commissions if you use the services we recommend on this site.
At LLCBuddy, we don't just offer information; we provide a curated experience backed by extensive research and expertise. Led by Steve Goldstein, a seasoned expert in the LLC formation sector, our platform is built on years of hands-on experience and a deep understanding of the nuances involved in establishing and running an LLC. We've navigated the intricacies of the industry, sifted through the complexities, and packaged our knowledge into a comprehensive, user-friendly guide. Our commitment is to empower you with reliable, up-to-date, and actionable insights, ensuring you make informed decisions. With LLCBuddy, you're not just getting a tutorial; you're gaining a trustworthy partner for your entrepreneurial journey.

Oil And Gas Back Office Statistics 2023: Facts about Oil And Gas Back Office 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 Back Office, 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 Back Office 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 Back Office Statistics 2023

☰ Use “CTRL+F” to quickly find statistics. There are total 11 Oil And Gas Back Office Statistics on this page 🙂

Oil And Gas Back Office “Latest” Statistics

  • By removing data wrangling and manual data input and fully digitizing essential daily field operations tasks like trip planning and data entry, Joyn decreases a normal workday for a lease operator, pumper gauger, or field tech by up to 25%.[1]
  • Just 4% of businesses across all sectors can apply sophisticated data analytics to provide real commercial value.[2]
  • With the use of these analytical advantages, oil and gas businesses may increase output by 6% to 8%.[2]
  • LNG output for the months of January through July was 19.1 million tonnes, an increase of 9.6% from the same period in 20.21.[3]
  • Liquefied natural gas output hit 2.3 million tonnes in July, up 25% from the prior year but down 7% from June.[3]
  • Last month’s natural gas production was 36.5 billion cubic meters, which is 6.9% lower than June 2022 and 24.5% less than July 2021.[3]
  • Russia produced 10.76 million barrels of more oil and gas condensate per day than it did in June (10.70 million ).[3]
  • Automated control of annular pressure in high-GOR ESP Wells results in 14% more output and 97% fewer field visits.[4]
  • About 53% of oil and gas employees cited job security as a worry in a workforce poll by the University of Houston.[5]
  • Only 1-2% of oil and gas capital expenditures are allocated to new green energy projects; thus, corporations have almost infinite room to change their current hydrocarbon business models.[5]
  • In the first half of 2020, worldwide GHG emissions decreased by 17%, and gasoline consumption declined by 30% because of the previously unheard of.[5]

Also Read

How Useful is Oil and Gas Back Office

So, how useful is the oil and gas back office? The answer is simple: absolutely essential. The back office is the backbone of any organization, providing the necessary support to ensure that the company can function efficiently and effectively. From processing invoices and payroll to managing contracts and compliance, the back office handles a wide range of critical tasks that are vital to the success of the business.

One of the key benefits of a well-functioning back office is cost savings. By streamlining processes, automating tasks, and reducing redundancies, companies can save time and money. This can have a significant impact on the bottom line, allowing organizations to remain competitive in an increasingly challenging market.

Another important aspect of the oil and gas back office is risk management. In an industry as complex as oil and gas, there are numerous legal, financial, and regulatory risks that must be managed to ensure compliance and protect the company’s assets. The back office plays a crucial role in overseeing these risks, ensuring that the company is operating within the confines of the law and minimizing exposure to potential liabilities.

Additionally, the back office can provide valuable insights through data analytics and reporting. By collecting and analyzing data from various sources, the back office can help the company make more informed decisions, identify trends, and uncover opportunities for growth. This information is essential for strategic planning and can give companies a competitive edge in the marketplace.

But perhaps the most important role of the oil and gas back office is in supporting the company’s most valuable asset – its people. From recruiting and training new talent to managing employee benefits and performance reviews, the human resources function of the back office is critical to maintaining a motivated and engaged workforce. Without a strong HR presence, companies risk losing their top talent to competitors and struggling to meet their business objectives.

In conclusion, the oil and gas back office is a vital component of any successful organization in the industry. It provides the necessary support, coordination, and oversight to ensure that the company can operate efficiently, minimize risks, and make informed decisions. While it may not always receive the recognition it deserves, the back office is an essential part of the oil and gas industry and plays a critical role in driving business success.

Reference

  1. oilmanmagazine – https://oilmanmagazine.com/article/powering-the-digital-oil-field-with-integrated-saas-field-data-gathering/
  2. bain – https://www.bain.com/insights/big-data-analytics-in-oil-and-gas/
  3. reuters – https://www.reuters.com/business/energy/russias-july-oil-gas-condensate-output-rises-1076-mln-bpd-stats-office-2022-08-24/
  4. slb – https://www.slb.com/
  5. deloitte – https://www2.deloitte.com/us/en/insights/industry/oil-and-gas/future-of-work-oil-and-gas-chemicals.html

Leave a Comment