What is Oil and Gas Software?
Oil and gas software is a specialized digital solution that addresses the industry’s particular demands and challenges. The system helps companies handle distinct activities from exploration of possible reservoirs, drilling for extraction, and refining the finished product for transport and sale. It also involves a range of management tasks like asset and workforce tracking, resources and production forecasting, and compliance monitoring.
Importance
Oil is critical to the economy, required for transportation, heating, and power. This makes the industry one of the world’s largest, with over $5 trillion in worldwide revenue. With its sheer importance and the diverse operational aspects to consider, using elaborate software to facilitate daily activities is a must.
Efficient data management – Petroleum operations go through large volumes of data, such as well logs, seismic calculations, tanker and pipeline malformations, stress corrosion, and production records. The software guarantees the accuracy of information collected and the security of data stored or shared.
Improved operational efficiency – Automation optimizes workflows, reduces human error, and enhances overall operational performance.
Enhanced decision-making – Pre-built analytics and data visualization provides companies with a clear view of their operations, helping workers make informed decisions about their job.
Reduced costs – Comprehensive digital solutions ensure proper maintenance scheduling, inventory management, and resource allocation, which leads to significant cost savings.
Regulatory compliance – This sector has faced heavy scrutiny because of its profound impact on the environment. Oil and gas software helps ensure that companies work within the mandates by cataloging permits, monitoring air and water levels, and minimizing health hazards and risks, just to name a few.
Key Features of an Oil and Gas Software Solution
Petroleum companies handle a wide range of tasks depending on the stage of oil production they work on. Some oil and gas software categories feature specialized functionalities (e.g., geology and seismic, engineering, simulation and modeling, etc.), but you can achieve your objectives even with the basics:
Data management
Asset management
Maintenance and reliability
Supply chain management
Production forecasting
Field operations tracking
Remote monitoring and control
Health safety and environment
Regulatory compliance
Reporting
Analytics
Collaborative tools
Choosing the Right Oil and Gas Software
Any of the options described above will prove to be an asset to your company. Before you make your final choice, take another look at the top-rated digital solutions below:
Oil and Gas Software | Free Version | Paid Plan | Mobile App |
Mitti (by SafetyCulture) | Yes | $24/user/month* | Yes |
Petro.ai | No | Contact for pricing | No |
Enertia | No | Contact for pricing | No |
EnergySys | No | $42,000/year | No |
FieldCap | No | Contact for pricing | No |
Quorum Energy Suite | No | Contact for pricing | No |
P2 Energy Solutions | No | Contact for pricing | No |
* billed annually
