Oil and gas companies need oil and gas asset management software because they use complex assets, and generic EAM or CMMS solutions aren’t robust enough for this industry. Oil and gas asset management software is used by the employees responsible for maintenance (including field service technicians) and by managers to monitor operations and optimize asset usage. This type of software helps oil and gas companies track many types of assets across multiple locations, and increase the productivity of their equipment through maintenance and repairs.
All oil and gas asset management solutions provide reporting and analytics, but some also integrate with advanced data management or business intelligence software to process large volumes of information. Since oil and gas companies generate and manage many documents about their assets, integration with document management systems is also provided by some vendors.
To qualify for inclusion in the Oil and Gas Asset Management category, a product must:
- Define various types of assets or equipment and track their physical location
- Schedule human and material resources for maintenance, repairs, or installations
- Manage inventory, assets, spare parts, and materials needed for maintenance
- Monitor asset usage, availability, uptime or downtime, and productivity
- Create and manage asset documents for tax or compliance purposes
- Include procedures and documents to implement and monitor safety measures
- Provide mobile apps for field employees to access data and submit reports
- Plan inspections for preventive maintenance, track results, and recommend corrective actions
