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Tag: Oil&Gas

How Can LoRaWAN Be Used to Track Assets In O&G?

Since we first formed our company, we have seen many changes in terms of developing technology. Although the evolution of technology has drastically changed (and improved) a wide range of industries, the oil and gas industry has benefited immensely. By investing in digital technologies, large oil and gas companies are […]

How Smart Contracts Can Help Improve Your Oil and Gas Business

Blockchain as a technology has the power to change the way business works. It offers a distributed ledger that makes transactions transparent by recording every action with regard to a specific asset. While it is still anonymous, the basic idea is that if everyone can see a transaction has taken […]

Why Would My Company Need Blockchain? Is it a distributed ledger or digital currency?

Blockchain may be the newest buzzword, but that doesn’t mean it is all hype. The technology has the potential to put supply chains in the oil and gas industry on their heads, but of course, that’s all in theory. One of the frequent questions we hear at RigServ is why should […]

When Should I Perform a Physical Inventory Count (Stocktake)?

One question we are asked repeatedly is when should I perform a physical inventory count also known as a stocktake. There are several circumstances that call for a physical inventory count and it is recommended that each company documents these requirements to ensure they are followed consistently.   1. When […]

When Blockchain Meets Supply Chain in Oil and Gas

Blockchain is revolutionizing the way people pay for goods and services all around the world, but it is also impacting companies. From placing a purchase order to the delivery of goods, and documentation to payments, blockchain is the newest part of the procurement of goods and services for the energy industry. […]

Enterprise Asset Management System – You Got This?

   What can strategically integrated Enterprise Asset Management (EAM) software do for your company?  Do you have physical assets, capital equipment, maintenance procedures, spare parts inventory, and equipment certifications?  How does your company manage these diverse operational areas?  If your company is like most others, there is no central repository […]

Asset Walkdown – Know Your Assets

   When does an asset walkdown typically take place?  One example is the acquisition of a new rig, equipment storage yard, or an industrial facility such as a refinery.  For the benefit of brevity let’s focus on rigs here.  After the deal closes what’s next from an equipment perspective?  You […]

How Mobile Printing Streamlines Rig Supply Chain & Warehouse Processes

To survive and thrive, the oil and gas industry must work more efficiently than ever, especially in a low-crude price environment. To make the supply chain more streamlined, I see many rig owners trying to operate with a lower headcount but not using technological advances to make the tasks easier for […]

Data

The Top 10 Challenges When Cleaning and Converting Master Data

Dirty data is a big problem—and too many companies don’t know how to handle it. According to a 2013 Gartner study, 20 percent of the information inside a database is of poor quality, and it’s costing organizations an average of more than $14 million every year.Data cleaning is a challenging issue […]

True Costs of Physical Count Errors in the Energy Industry

The True Costs of Physical Count Errors Inventory counting may not be the most exciting topic, but it is a critical one – especially in the oil and gas industry. Many companies in the space have hundreds of millions of dollars’ worth of spare parts in their inventories at a given time. […]