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Quick Decision Makers to Succeed in Energy Industry to 2025

2018-05-29 08:02:32 Admin

Quick Decision Makers to Succeed in Energy Industry to 2025

To simplify operational process, increased productivity, cost savings and achieve greater efficiency, companies like Saudi Aramco, Sinopec, CNPC, Petro China, ExxonMobil are adapting advanced technologies like robotics and big data analytics. An estimated cost efficiency of up to 20% can be observed in upstream projects through the use of digital technologies.

- Reduced maintenance expenditures- Through new equipment like drones and equipment sensors, continuous monitoring activities and significant maintenance costs are being achieved.

- Increase recovery rates-  By adding time lapse dimension to 3D seismic technologies, accurate reservoir limits are being estimates, leading to increased recovery rates

- Efficient supply chain management- By optimizing transport routes, using location planning for networks are expected to boost efficiency in supply-chain management

- Adapt to consumer behaviour-  Through big data analytics, quicker and detailed understanding of consumer habits and preferences is being achieved, allowing companies to optimize pricing models, fuel standards and marketing efforts.