The U.S. is experiencing an energy and oil boom, and North American oil and gas production has increased. However, with the increase of productivity on the oilfield, today's oil and gas companies face a new set of challenges that are complex and demanding. For instance, unique demands are placed upon field personnel, support staff, regional back office operations, and accounting personnel.
To run day-to-day operations, it has become critical for oil and gas companies to seek ways to increase their operational effectiveness and financial processes. Resultantly, today's digital oilfield has enabled oil and gas companies to evolve more rapidly and increase overall productivity. Two significant technologies in the digital oilfield include Microsoft Dynamics NAV for Oilfield Services and cloud computing.
Microsoft Dynamics NAV for Oilfield Services
Exploration and production companies have an increased need to streamline their operating models and simplify cash management to remain competitive. The digital oilfield has aided oil and gas companies to integrate their operations through data management, process completion, production optimization, and other critical processes.
Cloud Computing for Oilfield Services
Mobility has become a greater reality for the oilfield services industry and cloud computing has enhanced how oil and gas engineers, managers, and IT managers access data necessary for operational decision-making. The use of mobile devices on the oilfield are expected to make accessing data simpler and more efficiently. Cloud computing benefits for oil and gas companies include on demand computing anywhere at anytime, an immediate responsive communication tool, reduced spending on technology infrastructure, and less physical hardware, maintenance and administration which translates to lower capital expenditure and operational expenditure.
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By Sikich, Microsoft Dynamics Partner, www.sikich.com