IDC PeerScape: Best Practices for Asset Performance Management in the Oil and Gas Industry
This IDC PeerScape discusses asset performance management for oil and gas companies. It outlines a number of best practices in the APM space, ranked by technology and execution complexity."O&G players deal with asset-intensive operations where equipment failure, performance slowdown, and unplanned shutdowns are inevitable. An APM strategy can be a competitive advantage for O&G companies as it will enable them to extract maximum value from their assets," said Gaurav Verma, research manager, IDC Energy Insights, IDC Europe.
Please Note: Extended description available upon request.
- IDC PeerScape Figure
- Executive Summary
- Peer Insights
- Practice 1: Ensure All Data Generated Onsite is Unified in a Single Platform to Bring Forth Actionable Insights
- Challenge
- Example
- Guidance
- Practice 2: Implement AI/ML-Powered PdM, which is at the Heart of Any APM Strategy
- Challenge
- Example
- Guidance
- Practice 3: Consider Developing Digital Twins to Manage Structural Integrity and Performance of Critical Assets
- Challenge
- Example
- Guidance
- Practice 4: Develop an EM Model to Boost Operational Assets' Energy Efficiency
- Challenge
- Example
- Guidance
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