Reducing Operational Costs

The global demand for affordable energy and an increase in relatively low-cost natural gas supplies, increasing regulatory pressures and skyrocketing capital and operational costs make it challenging for oil and gas companies to balance operations and maintain profitability.

As the industry continues the search for new reserves, addresses capacity issues, and upgrades ageing plant and infrastructures, it will look to automation technology to optimize production processes to maximize profits and reduce costs wherever possible. Energy usage, for instance, can account for up to 43 percent* of refinery operating costs, so a small savings in energy can lead to big savings in cost.