Digital Revamping of Oil and Gas - Creating Ageless Assets and Structured Information Organization Strategy
What is the common link between Industry 4.0, Cyber-Physical systems, Smart Factory, and Industrial IOT? Why it is important to revise the ways business data is used?
The base line principle of seamless data transfer, analysis and decision making governs the new age technologies. These technologies modify a traditional task into a hi-tech activity. Its right to say that digital mutation has pervaded every industry, arena, domain and realm of business. In oil and gas companies, Engineering Information Management (EIM) oversees an asset life cycle, right from planning and designing to the last stage of decommissioning. EIM was created several decades ago when CAD was just evolving. This resulted in a lag and hence EIM is yet to meet the current industry standards.
Implementation of IoT is a puzzling problem as most of the old facilities have manual drawings, hard copies of equipment manuals and other documents. The puzzle becomes even more complex when the skilled workforce -owning the information and knowledge about the facilities - enters retirement cycle and limits ways to transfer their tacit knowledge to the new team. The only viable option is digitization but most of the oil and gas assets have not been able to cope with digitization and still operate with semi-automated and paper documents.
In-house digitization is a mammoth task and it is costly to build a platform to automate it. So, the best way forward is a shared platform; a platform for multiple assets, i.e., EIM and AIM integrated digitization platform which can be integrated to SAP EAM workbench or NRx Asset Hub or Aveva or Intergraph or any other platforms. This approach saves cost, time and effort and can be available on pay per use OPEX model.
- 80 -90% information is digitized automatically
- Offered on cloud as a PaaS
- Can be configured to any specific requirement of the customer
- Reduces manual errors with in-built QA rules which can be further customized
- Can be integrated to any Engineering data warehouse to pull and push Data
It is also important to note that digitized data can be further utilized only if its structured as useful information and integrated across Engineering, ERP and EAM systems. We need a seamless integration to avoid information silos.
Hence, a unified integrated information system, addressing both engineering and asset activities, can serve as a single source of truth and can answer the following questions
- Does the investment on such integrated digitized information pay-off?
- Is this expenditure an OPEX or CAPEX?
- Do we have matured tools and processes to handle it end-to-end?
- An Integrated Information system as a single source of truth with 99% accuracy
- At least a 2.5% savings in ongoing maintenance operations
- Huge saving on asset upgrades, modifications, part re-use or decommissioning
- Wrench time savings up to 30 % for maintenance team
- Easy procurement of spares centrally with inventory optimization and better price negotiations
- IOT and Analytics ready data platform
For ageless assets and structured information companies should undergo a digital revamp with EIM and AIM integrated digitization platform solutions.