Intelligent asset management drives effective operations in O&G

Profitability in the O&G industry is closely linked with asset uptime. However, O&G assets are a part of a complex network of fixed and moving equipment. O&G industry needs to take a proactive and cost-effective approach to intelligent asset management. This requires leveraging digitalization to enable actionable intelligence and transition. The era of Business 4.0 demands data enabled decision-making for improved operational procedures, reduced costs, and increased revenues. This requires continuous data analytics in O&G and model updates. This paper throws light on the intelligent asset management framework in O&G for maintaining a complex set of data for effective integration and decision-making.