The global pandemic coronavirus (COVID-19) has the oil and gas industry facing an increase in bankruptcies, layoffs, low oil prices, and record lows of oil demand. Oil producers are doing everything they can to adapt. As states started reopening, the number of coronavirus cases rose. On top of the financial problems, the health concerns in this matter are taking more priority as the United States (US) grew into the country with the highest number of cases. According to the World Health Organization (WHO), the US makes up over 25% of active cases in the world.
What is the best approach for oil and gas businesses to thrive during a pandemic while ensuring the safety of their employees?
Software solutions that reduce operational costs and physical interactions. There are many software solutions on the market; however, Petrofly uses its integrated vendor tools to specifically lower vendor costs and limit the need for physical interactions during the pandemic.
Most oil companies are restricting capital expenditure and looking over their invoices, but they are not the only ones who are affected by low oil prices and demand. As operators are cutting back on oilfield services to reduce cost, oilfield vendors and servicers get less business. Petrofly’s integrated vendor tools help connect oil and gas operators with vendors to take advantage of their lower prices during the lockdown. Operators use the Service Finder and Service Notification tools to directly lower their operational expenditure. They can choose cheaper servicers using the Service Finder tool, which looks for services based on area and price. The Service Notification tool takes an operator’s request for oilfield services, once that service goes on discount, Petrofly notifies the operator about the discounted rate. Seeking lower rates from vendors and servicers is the most cost-effective method to lower operational costs.
The coronavirus has brought up health concerns regarding social distancing. Software solutions are at an advantage because they can do everything remotely. That means your operation can keep growing with less physical interactions. The oil and gas software solution is cloud-based and allows everyone to work with their own online devices, so there are little to no health risks when transferring data or information throughout the operation.
Decision-makers and pumpers can rely on less physical interactions because the pumper can send data electronically through the software. The data gets automated into the system, and the decision-maker can save a trip out to the field. This applies to the staff throughout the operation to reduce the chances of physical interactions during the day.
What about outsourced work like workovers? Increasing interactions with servicers or vendors can be a health risk, that is why Petrofly helps contract and set up workovers through their platform. Operators that want to further limit their interactions with service providers have the option to let Petrofly get the workover arranged for them.
The oil and gas industry is going against another downturn, and this time, it’s best to keep up with health practices like social distancing. Operators can lower their operational expenditure by getting cheaper rates for their vendor and servicing needs. Using a web and mobile software solution encourages social distancing between in-house staff and outsourced workers, which ensures everyone’s safety is the priority.