OIL AND GAS companies currently face a volatile market. Yet,
over time—regardless of the market environment—oil and gas
executives have routinely identified cost control as one of their
While some companies cut IT investments during a turbulent
or depressed market, others have found that such a market is
precisely the time when the cost-savings benefits that can be
had with enterprise asset management (EAM) software will
have the greatest impact. These are the top 5 ways oil and gas
companies are saving money with EAM solutions:
Planned work is safer, faster, more efficient and less expensive
than unplanned work. An EAM system helps identify the right
parts, permits, instructions, safety equipment and skills up
Top 5 ways oil and gas companies save
money with asset management software
MIKE STONE, GREENVILLE, SC, INFOR
front and avoids wasted time and effort—essentially, rework.
Coordinating maintenance schedules with production also
helps provide adequate time to do the work instead of the usual
pressure to get equipment back into production when it breaks
down, increasing the potential for later rework.
Safety is improved because certifications are taken into
account. Tasks often require certified skills. When scheduling
work, the system can help prevent non-certified people from
being assigned the work with pop-ups that indicate the skills
of the worker in question don’t match the requirements.
Additionally, planning the right permits, safety instructions,
personal protection equipment, and access to safe work videos
goes a long way towards mitigating personal injury, damage,
and other safety issues.
Finally, including testing repair work is a critical step—and