Why Oilsoft built Drilling Waste Management Software
Emerging technologies can bring significant opportunities to improve all aspects of the operating model for Oil&Gas companies, it improves overall organizational model, including all connected supplier interface. However, implementation of these new technologies will require investment and the industry realized its importance during 2014 to 2016 when oil price declined dramatically leaving only option for ONG companies to focus on ‘cost cut’.
“The cost of drilling and completion is the major component in most global oil and gas capital expenditure development.”
“Oil and gas companies reduced capital spending on wells by approximately 40% in 2016.”
When Oilsoft started its business in early 2016 at downtown of Calgary, people thought they are crazy! There was a constant down-turn with 100s of offices closed during 2016, Oilsoft started revealing the concept how to survive longer as possible, its indeed small scale but the concept was very much appealing, when environmental companies were planning to reduce their field people, operational people and almost zero investment…Oilsoft introduced a solution how to maximize field & Office efforts with less resources involved but better productivity improvement and saving cost. Within Drilling Waste management area, the operational process in majority depends on manual work, such as field people collect and verify the data and input into an excel sheet, the office managers collect those information and input into another system to complete the cycle and print out a report that are required to submit to the Govt authority. It is obvious a minor mistake due to human error could lead into very bad consequences where business could be in danger. A fully automated system where the software can capture all data and validate during input so human error could be removed, the system is integrated with country/state specific regulations (ex. Directive) so no need of spending huge amount of time in validating parameters. The software is running on cloud so