Climbing the walls
{open_quotes}Integrated solutions{close_quotes} has become such a buzzword in the business world that it`s beginning to lose its semantic impact. But when the business is oil and gas and the integrated solutions revolve around information technology, the impact is very great indeed. A recent Cambridge Energy Research Associates study called the use of information technology within the petroleum industry a {open_quotes}quiet revolution.{close_quotes} The technology has been {open_quotes}a powerful, enabling factor in the survival and rebirth{close_quotes} of the industry since the price collapse of 1986, the report states, adding, {open_quotes}It will be even more important to the industry`s future, shaping business strategy and competitive advantage-- and company structure.{close_quotes} Like many other industries, oil and gas companies are moving away from hierarchical structures, relying on asset teams and other interdisciplinary approaches to maximize profits in an era of downsizing, volatile prices and stiff competition. {open_quotes}I think in the past the energy industry had a commodity mindset,{close_quotes} says Robert Shaw, senior vice president and head of the worldwide sector for Oracle Energy. {open_quotes}The industry was fairly controlled, stable and regulated, and there was a feeling that there wasn`t much to do except find oil, own reserves, refine as much as they can, run the pipe full, dispose of as much as they can and hopefully make a lot of money{close_quotes}.
- OSTI ID:
- 576352
- Journal Information:
- Hart`s Oil and Gas World, Journal Name: Hart`s Oil and Gas World Journal Issue: 7 Vol. 89; ISSN 1075-5365; ISSN HOGWF6
- Country of Publication:
- United States
- Language:
- English
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