Case Study
$140M value unlocked with intelligent asset management for offshore drilling operations for a multinational oil and gas company
- Industry: Energy (Oil & Gas, Renewables) ​​
This multinational oil and gas company is among the world’s largest companies out of any industry. This $381 billion company has over 86,000 employees worldwide and a presence in more than 70 countries.
Challenge
- Decentralized asset operations data: fragmented data across various departments, leading to inefficiencies
- Lack of transparency: inability to identify spend leakages due to lack of centralized data
- Decision-making gaps: absence of data-driven insights for informed decision-making
- Compliance issues: non-adherence to industry and internal compliance standards
Solution
An intelligent asset management solution was developed for a major offshore deep-water drilling corporation. The solution leveraged master data management to integrate core systems, creating a unified data value chain. Automation and AI models were deployed to transition from data to decision-making, ultimately leading to cost savings. Key features include:
- Predictive and prescriptive analytics: for asset and fleet management
- Data quality and master data management: ensuring data integrity and compliance
- Automation and integrated workflows: for efficient asset mapping and decision-making
- Live scenario-based decision-making system: for real-time insights and actions
Capabilities leveraged
Data & Analytics
Process Transformation
AI & ML
Outcome
$140M+
value unlocked
$29M
in auditable cost savings in the first year
$60M
additional savings led by buffer spare reduction
220+
users engaged across 37 offshore drilling units in 10 countries