Oil companies need production software to optimize extraction operations and make the most of their reservoirs. Oil production software helps oil companies implement and manage production plans across multiple locations and for different types of extraction methods (surface or subsurface). Oil production software also ensures compliance with health and safety regulations, and helps oil and gas companies avoid soil and water pollution.
Oil production software needs to exchange information with solutions such as oil and gas simulation and modeling or oil and gas engineering in order to optimize production planning. Information from CMMS, EAM, or oil and gas asset management can also be used to increase asset productivity during production.
To qualify for inclusion in the Oil Production category, a product must:
- Provide production data visualizations for wells, locations, or operations
- Plan production activities based on resource availability and extraction priorities
- Monitor downtime due to asset maintenance, accidents, or natural phenomena
- Capture and manage production data on multiple devices
- Ensure compliance with environmental and safety regulations during production
- Track indicators such as well performance, employee productivity, or asset usage
- Include reporting and analytics on production volumes, costs, and forecasts
