Digital Revamping of Oil and Gas - Creating Ageless Assets and Structured Information

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.

Benefits:

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?

Benefits:

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 platformsolutions.

About the Author

Raghuram is the Senior Director, Asset Management, Engineering and Enterprise Solutions at Wipro. With more than 27 years of industry experience, he is well conversant with SAP R/3 Basis & Security, SD, MM, HR, FICO, PM, SAP SRM, BW, IS Oil & Gas, Maximo EAM, AutoCAD, Primavera, Intergraph SmarPlant tools, project tools- Rational, Clarify, HP QC, MS Project, Peregrine, Lotus & Remedy.

Raghuram collaborated with senior management for providing strategic inputs and IT vision with his in-depth experience in resource administration & optimization and quality management of the product / software application, established Offshore Delivery Centre

He is involved in strategic initiatives like bringing new solutions & practices, business models and business growth & transformation. Raghuram supervises consulting, delivery excellence, transition, transformation, people management, marketing and pre-sales with a focus on Asset Management, Engineering and Enterprise Solutions in Energy Natural resources and Utilities Vertical.

Raghuram quickly adopted the change from IT to Engineering services and is helping Wipro Ltd achieve its vision of becoming market leader in Asset Management Services by expanding into global markets in oil & gas industry.

Service Offerings

Client Themes

Service Offerings

Client Themes

Our Global Presence Global Site

Our Global Presence Global Site

Our Showcase Pages Locations

Digital Revamping of Oil and

Gas - Creating Ageless Assets

and Structured Information

About the Author

Service Offerings

Industries

Digital

HOLMES

Innovation

Contact Us

About Wipro

Our Brand Story

Location

Leadership

Investors

News and Events

Blogs

Analyst Speak

Partner Ecosystem

Careers

Sustainability

Contact Wipro