Enterprise Asset Management (EAM) dons the role of a protective abode for all the asset-intensive companies including the oil and gas organizations. Effective EAM strategies and solutions can precipitate the organizations’ business outcomes into far-reaching goals. The oil and gas companies in their daily operations have to maintain colossal movable assets—land and ocean-based rigs, oil tankers that can complicate the asset maintenance and equipment tracking processes. During the upstream drilling processes, the companies also have to track the asset movements to capture their location and record if they are installed and operational. Additionally, the organizations are required to operate and maintain their assets as per the National and International health, safety, environmental and compliance regulations during exploration procedures. Furthermore, the increasing energy prices is causing intense pressure on the companies to keep refineries operating at high utilization rates. Bridging this gap AssetPoint located in Greenville provides software solutions to maintain vital assets crucial to equipment uptime and avoiding catastrophic equipment failures.
AssetPoint’s TabWare is an EAM solution that aims to mitigate the asset related problems in the upstream drilling and exploration, midstream distribution companies, and downstream production and refining companies. The company provides efficient asset management software solutions that are able to mitigate the challenges in moveable asset management in the oil and gas stream.
The upstream drilling and exploration companies have to prioritize on searching for potential underground or underwater crude oil and natural gas fields, and operate the wells that recover and bring the crude oil or raw natural gas to the surface. During these operations, the upstream companies have to manage and maintain movable assets and equipments that can be transferred between land-based and ocean-based rigs, areas, divisions and countries.
AssetPoint’s software also helps in maintaining the assets within downstream processing units such as vacuum distillation, catalytic cracking, hydrocracking, and hydrodesulfurizing
Through the analytics dashboards of the TabWare software, the companies can keep a tab on the performance metrics that include managing the health of the assets, and equipment downtime, spot the areas of concern and quickly initiate remedial measures. The TabWare records if the assets are installed and operational in the land or mid ocean locations.
AssetPoint’s TabWare helps the midstream companies that deal with the transportation of pipeline, and wholesale marketing of crude or refined petroleum products to track the assets from a single location. The midstream assets are part of larger networks of equipment, and TabWare identifies underperforming asset conditions, thus preventing a network or operational failure. TabWare also helps in tracking the equipments when they meet with untoward incidents like accidents, emissions, spills and thereby facilitating the companies with crisis control activities.
AssetPoint’s software also helps in maintaining the assets within downstream processing units such as vacuum distillation, catalytic cracking, hydrocracking, and hydrodesulfurizing. The solution helps control the costs and maximizes the asset performance whether the customer’s distillation capacity is 5,000 or 500,000 barrels per day.
In one of the instances, Xtreme, a drilling and coil-based services contractor faced impediments in improving rig time, collecting data and history during the shale drilling operations. The firm then approached AssetPoint to install Tabware. The contractor witnessed tremendous progress in the ability to manage moveable assets and collect timely and accurate data. With continuous developments in the asset management sphere, AssetPoint is looking forward to improvise their existing solutions. This future initiative is intended to help organizations combat the growing challenges and comply with their Health, Safety and Environmental (HSE) program goals and standards.