Oil & Gas: Industry Overview
The oil and gas sector is among the six core industries in India and plays a major role in influencing decision making for all the other important sections of the economy. The government has allowed 100 per cent Foreign Direct Investment (FDI) in many segments of the sector, including natural gas, petroleum products, and refineries, among others. India will overtake Japan to become the world’s third largest oil consumer behind the US and China by 2025. Rapid economic growth is leading to greater outputs, which in turn is increasing the demand of oil for production and transportation. To keep up this development, oil and gas organizations are judiciously building up their assets and utilizing cutting edge innovation and solutions to revolutionize their energy operations, outplay the competition and guarantee consistence.
The Oil and Gas industry is now experiencing a digital revolution on both the supply and demand sides of the value chain:
a. The trend is to move away from traditional, vertically integrated business models to one where access to information will overtake access to reserves and capital as the competitive differentiator.
b. Digital will enable oil and gas companies to break free of the traditional energy demand and capture value in three main areas: lower costs, a more diverse portfolio, and more outcome-focused business models.
With SAP solutions, oil and gas companies can provide reliable access to energy sources to drive world economic growth and elevate the standard of living. They achieve this by optimizing capital spend, maximizing return on assets, improving profitability, and driving sustainable operations while operating safely, developing talent effectively, and continuously transforming their businesses.
SAP is having software application to cover all aspects of Energy business. Here are the areas mentioned below -
Capital and Spend Effectiveness
- Capital Planning
- Capital Portfolio and Project Management
- Strategic Sourcing and Supplier Management
- Procure to Pay and Business Network
Integrated Digital Oilfield Operations
- Hydrocarbon Production Management
- Hydrocarbon Revenue Management
- Field Logistics
Hydrocarbon Supply Chain
- Hydrocarbon Supply and Distribution
- Hydrocarbon Processing Visibility
- Commercial Sales and Marketing
- Secondary Distribution and Fuels Retailing
- Convenience Retailing
- Risk Analysis and Governance
- Workforce Competency
- Asset Integrity
- Environment, Health, and Safety
Solution for Oil Field Services:
How can SAP® solutions help you?
Oil field service (OFS) companies perform drilling and well servicing activities that enable oil and gas operating companies to give the world reliable energy source access. SAP solutions help OFS companies develop new equipment and services, maximize asset utilization, improve profitability, and execute effective operations while operating safely, developing talent effectively, and continuously transforming the businesses.
What do SAP solutions help customers to do in?
- ➢ Oil field product engineering
- ➢ Oil field equipment manufacturing
- ➢ Operational integrity
- ➢ Supply chain
- ➢ Sales and Service Management
What are the Benefits?
SAP solutions help oil field service firms create innovative products and new revenue streams through:
- Faster response to market demands because of efficient engineering and production.
- Improved customer satisfaction due to service-based business models and targeted offers.
Infocus is having an experienced and professional team equipped with the knowledge of the business process in Oil & Gas industries to ensure SAP solutions are successfully rolled out in this vertical.
Contact us today at firstname.lastname@example.org or Call us +91 33-22894329 for all your queries.