As the oil and gas pipeline industry grapples with change at every level — including increasing pipeline operations and expanding regulatory oversight infrastructure —cost savings and operating efficiencies have become more important than ever. Both pipeline operators and contractors can benefit from utilizing EPPM solutions to help them pinpoint the best strategies to develop and implement projects from conception through execution to end game — thereby helping to reduce risk and manage cost. In the end, it’s all about smartly using an approach, such as EPPM solutions, like those from Oracle, to help pipeline operators and contractors reduce costs at the project, portfolio, and enterprise levels through the project lifecycle. The midstream companies that are able to implement the best approach to managing risk to their operations in the most cost - effective way will be the ones to best weather another tumultuous decade to come for the oil and gas industry.
It's a common scenario in the mining and oil & gas industries: the project has been approved to proceed and the pressure is on to get multiple parties – partners, consultants, contractors and suppliers – working together efficiently to meet an aggressive schedule. This challenge is often exacerbated by globalization and by the vast volume of data that flows between the project team.