Risk management driving greater IT role in upstream 
Published: Apr-25-12
As the upstream environment gets tougher for the oil and gas industry, information technology is playing an increasingly vital role to make operations more integrated and efficient. Growing evidence of this comes from the findings of the latest Accenture and Microsoft Upstream Oil and Gas Computing Trends Survey.
This survey found that nearly three quarters of the oil companies questioned, spent as much as or more “focus and investment” on information technology (IT) in 2011 than in 2010. Two important factors drove their IT spending: the drive to reduce costs, and the need to handle ever increasing amounts of data.
Also, since 2011, oil companies have been dealing with additional business issues like new drilling legislation, which is affecting their IT strategy. Post the Macondo incident in the US Gulf of Mexico; most oil companies have re-evaluated their drilling safety procedures with a view to reducing risk.
The increasing focus on risk management was acknowledged by almost 75 percent of the oil industry professionals who responded to the survey, as the main driver for seeking greater IT integration in the upstream. Slightly fewer—around sixty percent—worry that new drilling regulations may have slowed down business processes.
Cost and data issues are not new challenges to companies in the upstream. Neither is the primary focus on health and safety. However what is rising to the fore with incidents like Macondo is the increasing importance of IT in upstream efficiency. This is likely to be accelerated as companies anticipate that their current use of technologies such as cloud and mobility will rise sharply in the next year. The need for greater risk management, improved incident response, greater access to and visibility of information will continue to drive greater software integration in the upstream.
Every business must have a risk when on the run. However, before running this plan there would be planning on this, positive and negative impacts of a plan should consider the solution by the manager.
sydney escorts   |   May-29-12   |  10:30 AM

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About the Authors

Arthur Hanna
Mr Hanna is the Industry Managing Director of Accenture's global energy practice. He has led a wide portfolio of work for a variety of international ...

Richard Holsman
Mr. Holsman is the Global Energy Technology Managing Director and leads Accenture’s Europe, Africa and Latin America technology business for resource...

Brian Richards
Brian Richards is a Senior Manager and Senior Technical Architect in Accenture’s Energy industry group. He is the Energy Innovation Lead for North Am...

Zahra Bahrololoumi
Zahra Bahrololoumi, managing director, Accenture Energy, is based in London. Zahra has deep transformation and delivery experience spanning multiple ...

Tracey Countryman
Tracey leads Accenture’s Plant and Commercial Business Service in North America helping to deliver transformation improvements in client manufacturin...

James Arnott
James Arnott is managing director, Accenture's Resource Operating Group, and leads Accenture Capital Project Services for Europe, Middle East, Africa...

Susy Tamminga
Susy Tamminga is a senior manager in Accenture’s Resources group. She has extensive experience in global business transformation, talent, change mana...

Dean Forrester
Dean is a Managing Director in Accenture’s Energy industry group based in Houston. He has been involved in many major upstream programs including imp...

Colin Sloman
Colin Sloman is a managing director, leading Accenture’s Global Human Capital Strategy Group. He has over 25 years’ experience spanning a number of s...

Julie Adams
Julie Adams leads Accenture’s Resources and Energy global research team and provides original research support and market insight for the Accenture E...

Jeff Miers
Jeff Miers, managing director for Energy—Analytics, is based in Houston, North America. He has 16 years of experience leading consulting and systems ...

Kevin Donaldson
Kevin Donaldson, managing director for Energy—Analytics for Europe, Africa and Latin America is based in London. He has responsibility for the coordi...

Senthil Ramani
Senthil Ramani, managing director for Analytics—Technology for Asia Pacific, is the Accenture Enterprise Services (AES) Business services and Digital...

Valerie Jalufka
Valerie is a Managing Director in Accenture’s Energy industry group based in Houston. She has over 14 years of experience in the Energy industry incl...
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