Oil Software Helps Companies Stay Efficient Three Facts

Did you know that, because of safety training, automation, and changing work culture, the accident rates in the oil industry have fallen, and working on a rig is actually a fairly safe job? In fact, offshore rig workers have a lower injury rate than teachers do. People who work in the oil industry end up using oil well software, which can monitor everything from ground instability to issues with water contamination. Here are three important facts you should know about this.

1. Software Data Capture Systems Help Preserve the Environment

It might seem at odds with oil companies to help keep the environment safe. In reality, though, no one benefits from an oil spill or an area contamination; it represents millions of dollars of clean up efforts on the part of companies. Software helps prevent problems like this from developing by providing data to engineers that indicates how wells are impacting the surrounding environment. The promotion of better drilling procedures by using this data helps prevent spills, workplace injuries, and other problems.

2. Field Software Helps Maintain Efficiency

Did you know that the average oil well production is between 1.2 and 1.4 million barrels a day? This number varies depending on several factors. A well becomes unprofitable when, even at its most efficient output, the flow rate fails to cover the operating costs of using it. This is one main reason companies use oil software; it helps an oil field company understand, on a day-to-day basis, what their most productive areas are, and when to shut down a well.

3. The World Needs Oil

We might not all agree with the politics of oil; it’s fair to say it’s been at the root of a lot of conflict over the past 100 years. However, the world needs it to run. There is a problem with current oil production; it’s declining, even as demand from emerging markets is rapidly increasing. By 2035, there will be a production gap of 390 billion barrels of oil if nothing changes. The good news? There is at least 1.5 trillion barrels of definitive oil reserves, enough to meet demand. The only issue is getting oil companies to invest in finding less expensive ways to access it; perhaps oil field software will be part of the solution.

Have you worked for an oil field company? More.