Oil and Gas Back Office Statistics


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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.

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Top Oil And Gas Back Office Statistics 2023

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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]

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How Useful is Oil and Gas Back Office

The back office of an oil and gas company encompasses all the administrative functions necessary to support the day-to-day operations of the business. This includes functions such as finance, accounting, human resources, legal, compliance, and IT. While these functions may not be as visible as the drilling rigs or refining facilities, they are crucial to the overall success and efficiency of the company.

One of the primary functions of the oil and gas back office is financial management. The oil and gas industry deals with large amounts of money and complex financial structures. Without proper financial management, companies could find themselves in financial distress, unable to meet their obligations or finance new projects. The back office is responsible for ensuring that financial transactions are accurately recorded, budgets are followed, and financial risks are managed effectively.

Another key function of the oil and gas back office is compliance and regulatory affairs. The oil and gas industry is highly regulated, with numerous laws and regulations governing everything from environmental protection to employee safety. The back office is responsible for ensuring that the company complies with all applicable laws and regulations, as well as managing relationships with regulatory agencies and overseeing the audit process.

Human resources is another critical function of the oil and gas back office. The industry relies heavily on skilled workers to operate drilling rigs, refineries, and pipelines. The back office is responsible for recruiting, training, and retaining these workers, as well as managing employee benefits, compensation, and performance evaluations. Without a strong human resources function, companies could struggle to attract and retain the talent they need to succeed.

The back office also plays a crucial role in information technology (IT) within the oil and gas industry. IT systems are essential for managing vast amounts of data, optimizing operations, and ensuring cybersecurity. The back office is responsible for implementing and maintaining IT systems, as well as ensuring that data is secure and accessible to those who need it.

In conclusion, while the oil and gas back office may not receive the same level of attention as the more visible aspects of the industry, it plays a vital role in ensuring the overall success and efficiency of oil and gas companies. From financial management to compliance and regulatory affairs, human resources, and IT, the back office is indispensable in supporting and enabling the operations of oil and gas companies. Without a strong and effective back office, companies could struggle to manage their resources, comply with regulations, attract and retain talent, and leverage technology for 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

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