For Oil and Gas, the Future of Cloud-Based Computing is Now
Advancements in cloud-based computing over the last decade have allowed consumers and enterprises alike to download, share, transfer and extract data at speeds and with ease never before thought possible, leaving what traditional desktop software could do in the dust. In the world of oil and gas, meaningful inroads have already been sketched by way of the adoption of cloud-based computing solutions and it doesn’t look like this trend is going away anytime soon.
Cloud computing services can be classified as three major categories. They include:
- Software-as-a-Service (SaaS) is the cloud service where the business can subscribe to applications and access them over the Internet. As an example, Salesforce.com offers business applications through the cloud.
- Platform-as-a-service (PaaS) is a category of cloud computing services that provides a platform allowing customers to develop, run and manage web applications without the complexity of building and maintaining the infrastructure typically associated with developing and launching an app. Google App Engine, Microsoft Windows Azure Cloud Services and Red Hat OpenShift are among the top PaaS providers.
- Infrastructure-as-a-service (IaaS) is a form of cloud computing that provides virtualized computing resources over the Internet. In an IaaS model, a third-party provider hosts hardware, software, servers, storage and other infrastructure components on behalf of its users. IaaS providers also host users' applications and handle tasks, including system maintenance, backup and resiliency planning. Big players in IaaS are Amazon Web Services, Rackspace and VMware.
Among the benefits of cloud-computing include:
- Reduce IT costs - IT models of hardware and software investments and maintenance can be costly. By unhitching oil and gas companies from the cost and burden of managing large data/compute infrastructure, they will be able to have greater focus on their core competence. For energy consulting firms, they will be able to provide more value to clients with faster and better business solutions.
- Level the playing field - Most cloud servers are licensed through monthly subscriptions and only require a browser. This feature of easy access levels playing field for small, medium and large businesses alike.
- Speed of IT delivery and time-to-market - Because of the flexibility and scalability of hardware and software solutions PaaS and IaaS services provide, companies are finding that cloud services can dramatically shortened development and deployment lifecycles and reduced maintenance costs.
- Connect the unconnected - Oil and gas companies and energy consulting firms are increasing relying on partners, service organizations and individuals outside the firewall to share the increasing costs, risk and access the limited industry expertise. Cloud-based systems naturally allow for much broader collaboration as stakeholders are no longer bound to internal fixed assets and sites.
Since 2013, Opportune LLP has been a SAP implementation and service partner. SAP AG is considered a leader in enterprise software and software-related services with locations in more than 130 countries, and a 40-year track record of innovation. SAP offers 24 different industry solutions including oil and gas, chemicals, utilities and mining.
Over 90% of businesses are already using cloud technology in a public, private or hybrid cloud environment, according to SAP.
The benefits of SAP implementation were recently demonstrated at Assala Energy, an oil and gas exploration and production (E&P) company backed by Carlyle Group, which is focused on opportunities in Sub-Saharan Africa. Opportune implemented SAP S/4 HANA delivery in just six months, marking it the first full implementation of an S/4 HANA solution at an E&P company. The project scope covered everything from finance and supply chain to plant maintenance and human resources. (CLICK HERE TO READ CASE STUDY)
As organizations within the oil and gas industry experience the myriad of benefits cloud-based computing offers first-hand, Opportune’s experienced Process & Technology Practice team and industry professionals stand ready to assist clients and extend their value proposition across the entire supply chain, including upstream, midstream, downstream, power and gas and commodities trading, into operations and throughout the back office.