The Importance of Data Management in the Oil and Gas Industry


The Oil and Gas Industry can be complicated enough even without having to add data management into the equation. Yet, for any business to be successful, real-time data collection and analysis can’t be overlooked. It is however, not uncommon for data management overlooked with other priorities like labor and equipment taking the center stage.

But not having accurate data intelligence can often lead to mistakes and issues that can be detrimental to any business’s bottom line. In the Oil and Gas industry, these mistakes can harm more than just your profits. Certain problems like poor decisions, safety issues and maintenance issues can cost you a lot of money in the long run. Without proper data management process, it is also very easy to waste a lot of time in the evaluation phase which could leave you with less time to position yourself for effective drilling.

The best way to avoid getting caught up in the evaluation and data collection phase, is to find a way to streamline the data management task so that all the information received can be processed easily and efficiently. FutureOn can provide all the advanced digital and visualizations technologies to ensure you do just that.

The Benefits of Accurate Real Time Data

To fully understand how FutureOn can help you streamline your operations, it is important to understand the benefits that can come from real time data management. For the Oil and Gas industry, they include the following;

  1. Increased Safety

When you have complete information about your facilities, it is much easier to prevent disasters at the point of drilling and determine the cause should an accident occur. With information like GPS location, information on the welder and inspector assigned to the project, dates and heat numbers can go a long way in preventing future accidents.

  1. Easy Maintenance

Having accurate and easily updated databases of all the equipment in use can help you easily schedule and conduct maintenance. You will be easily able to access information on any piece of equipment and find out if it is overdue for replacements or upgrades.

  1. Land Acquisition and Processing

Land processes can be made easier by good management processes. That’s because you would have all the relevant information about any piece of land at hand, allowing you to easily retrieve the contracts, title geology and any other information regarding the land.

  1. Crafting the Perfect drilling Plan

With easy access to all the data you need, you can easily execute the perfect drilling plan. FutureOn takes this advantage a step further, enabling visual workflows that bring together all resources and activities to make your drilling plan easy. The platform will also easily integrate with all your other backend system and project software to bring all the data you need to the forefront of your planning activities, culminating in a 2D/3D visual if your project.

This easy access of all the data you need can make even the most difficult of projects easy to execute and manage.