Oilfield Operations Management System Opportunities in India 2020

admin — Sat, 12 Sep 2020 05:26:43 +0000

The Oilfield Operations Management System Opportunities in India report provides a holistic view of the different use cases, market influencers, and opportunity enablers predominant in the Indian market space.
Oilfield operators are gradually adopting digital strategies to improve business performance. They have become more reliant on innovation and technology. Oilfield operations management system (OOMS) is one such innovation that utilizes technologies like industrial internet of things (IIoT), artificial intelligence (AI), machine learning, and big data to ease operations. OOMS finds application in artificial lift optimization, automated workflow management, well monitoring, flow assurance, multiphase flow simulation, predictive analytics & production simulation, production optimization & allocation, and reservoir management.
A comprehensive range of oilfield operations management system use cases is being established to leverage information capital and transform the traditional oilfield sector into smart enterprises. Primary use cases of oilfield operations management system include fleet management, field productivity, production asset optimization, predictive maintenance, and biometric monitoring. The verticals which can gain major advantages from these use cases are Exploration and Production (E&P), Service and Supply (S&S), and Midstream & Downstream (M&D).
Focus on innovation, digital transformation, and a broad spectrum of advantages are expected to fuel the large-scale adoption of oilfield operations management systems. The current turmoil, caused by the international price war, oversupply, and the COVID-19 pandemic have triggered the digital transformation of the oil and gas sector. Operators have started showing interest in adopting solutions like oilfield operations management systems to sustain in the cost-constrained environment. Advantages like optimized production, reduced operating costs, and improved recovery rate are likely to encourage its adoption. Penetration of advanced technologies like IIoT, AI, machine learning, and big data are likely to be instrumental in leveraging the gamut of real-time data generated from oilfield assets.
However, in India, oilfield operations management system has not witnessed widespread adoption, owing to factors, such as budget constraint, lack of awareness, and organizational barriers, among others. Majority of the industry players lack knowledge regarding its qualitative and quantitative benefits. Furthermore, the implementation of the oilfield operations management system requires departmental collaboration, which is a significant challenge for the oil and gas companies where functional groups perform in silos. Additionally, the concerns regarding cybersecurity and data management challenges are impeding market growth. Oilfield operations management systems in India can capture enormous opportunities through empowering and sharing knowledge, leadership changes, and collective approach. Collaborations between solution providers and oil and gas companies can bring about opportunities. Enhanced knowledge of business cases among users and stakeholders can initiate adoption, and thus improve productivity while reducing operating costs.

Oilfield operations management providers:

• ABB Ltd
• Infosys Limited
• Emerson Electric Co.
• OCS Services (India) Pvt Ltd.
• Protiviti India Member Private Limited

The post Oilfield Operations Management System Opportunities in India 2020 first appeared on CRI Report.

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Oilfield Operations Management System Opportunities in India 2020