COVID and control – how automation can reduce energy project cost and risk
In a world where control and COVID together seem an oxymoron, Steven Bruce, Product Director at Idox shares his insights into where and how energy players can exert tighter control over projects to reduce cost and risk.
As oil demand recovers slowly, many operators have kept significant CAPEX and OPEX projects in a holding pattern. However, as of August, demand had returned to 89% of its pre-COVID level and by the first quarter of 2021, demand may recover to as much as 92-95% compared to pre-COVID levels, according to IHS Markit. As recovery looms, the energy industry is looking for ways to reignite their projects to spur economic recovery – one with efficiency and productivity at its heart.
Read the paper to learn how digital technology can:
- Automate laborious manual tasks
- Ensure the right people have the right information at the right time to underpin decision making
- Support the move to better standardisation for the handover of information
- Reduce the risk and cost of rework