June 23, 2017 | Written by: Matt Alexander
Categorized: Asset Management | Oil and Gas
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Oil and gas companies are facing major changes due to an era of lower oil and gas prices. Energy companies are increasing their investments in analytics, mobile, and Internet of Things capabilities. These investments will help them to reduce costs, improve operations and be more secure. The companies are connecting their processes, people and their assets (things).
In order to extract oil and gas in today’s economic environment, companies need to utilize and understand cutting-edge technologies and to employ highly skilled engineers, which comes at a high price. Maintaining the highest safety standards possible is paramount and companies are constantly improving their behavior, safety and leadership skills.
IBM is using its technological expertise and decades of leadership to help organizations in the oil and gas industries. From exploration and production to refining and marketing, IBM offers IoT solutions for oil and gas operations. With deep industry and process expertise, IBM helps oil and gas companies to enhance operational sectors, which can improve efficiency and optimize global resources in ways that enable organizations to focus on operational efficiency and resource utilization.
Asset Management for the Oil and Gas Industry
Figure 1: Who uses Maximo?
Asset management in the Oil and Gas industry can be a mammoth task and requires tremendous efforts. It involves managing several aspects including asset analysis, facilitating compliance efforts, planning shutdowns, reducing manual intervention, responding to complex supply chain demands, aligning roles and responsibilities and facilitating continuous improvements and much more.
IBM Maximo for Oil and Gas is built on a service-oriented architecture. It brings together traditionally separate business functions onto a single, integrated platform, and then adds a layer of industry specific functionality to support the unique requirements of the industry. It can help organizations boost operational intelligence and realize operational excellence with standardization, convergence, collaboration and the adoption of industry-standard operational practices.
IBM Maximo for Oil and Gas can be used to:
- Understand best practices to help improve the productivity and efficiency of critical assets
- Manage each asset’s life cycle including acquisition, work management, inventory control, purchasing and preventive maintenance
- Specifically address the specialized industry concerns such as failure codes, asset specifications, location details, prioritization matrix, regulatory compliance and condition for work
- Help reduce cost and facilitate and automate common processes
- Easily integrate into most existing business systems, because it is built on J2EE component-based Internet architecture.
It also helps managers to improve asset analysis, facilitate compliance efforts, plan shutdowns, instill integrity management, reduce manual intervention, respond to complex supply chain demands, align roles and responsibilities, facilitate continuous improvement, standardize and sharing data, improve organizational learning and address health, safety and environment needs.
Maximo software provides IoT solutions necessary to collect valuable knowledge, improve operational efficiency, and manage and operate mission-critical assets safely and productively. As oil and gas companies strive for operational excellence in a world that’s growing smaller and smarter, Maximo helps provide a competitive advantage.
Manage critical physical assets on one common platform
Maximo for Oil and Gas is a complete enterprise asset management solution that helps manage production equipment, facilities, transportation and infrastructure assets on a single, integrated platform. It helps organizations improve safety, reliability and compliance performance. It does this while reducing costs through standardization, convergence, collaboration and the adoption of better operational practices.
- To learn more about the capabilities of the solution, please read the Solution Brief.
- Explore further resources such as case studies, videos and more.