The world has over 6.2 million kilometers of pipeline, transporting crude hydrocarbon from oil and gas wells located in more than 65,000 oil and gas fields, and products from more than 697 refineries in 118 countries. These oil and gas facilities have expensive assets which are often located in desolate places and need specialized workforce for inspection, maintenance, and repair. Continuous monitoring decreases asset lifecycle costs and improves performance. A mere 2% increase in performance can increase profit by millions of dollars. Since OEMs are better equipped to monitor their self-built assets, the advent of new technologies has made offering industrial assets as a service more viable, both technically and commercially.
This white paper primarily focuses on the predicaments from the IT perspective, IT strategies the energy companies need to envisage, along with the involvement of third-party neutral IT organizations as facilitators for moving from CapEx to OpEx model.