Oil and gas software development - outsourcing company Boosty Labs

Oil and gas software development

We are an oil and gas software development company specializing also in blockchain outsource software development, outstaff development and tech consulting. For over five years we have been offering hospitality software development services. Boosty Labs is a world-class fintech and cloud engineering team with several years’ background of practice that combines consulting, strategy, design and engineering at scale. Mainly in oil and gas industry software development, finance, real estate, distributed ledger and cloud technology.

Cooperate

The reasons for software development for oil and gas industry

01.

Low reliability of electrical and electronic equipment of automation systems.

02.

Sensitivity of modern automation equipment to various interferences, including those caused by lightning and impulse overvoltages.

03.

High safety requirements for oil and gas transportation, storage, processing and distribution facilities.

04.

High level of competition in the industry.

01.

Low reliability of electrical and electronic equipment of automation systems.

02.

Sensitivity of modern automation equipment to various interferences, including those caused by lightning and impulse overvoltages.

03.

High safety requirements for oil and gas transportation, storage, processing and distribution facilities.

04.

High level of competition in the industry.

Application of blockchain technologies in the oil and gas industry

Blockchain technology has already found its application in areas such as finance, insurance, logistics and is now gradually coming into the oil and gas industry. Such  large companies as BP, Shell, Gazprom, Statoil and Repsol have already launched pilot projects built using blockchain to solve financial, trade and logistics problems.

Blockchain technology gives the oil and gas industry new opportunities to solve problems with cross-border transportation, high volume of transactions, complex document flow and others.

Blockchain technology applications

Logistics

The implementation of blockchain solutions will allow storing data on the transportation of petroleum products in a distributed register, which will serve as a single source of information for the shipper, carrier and consignee, as well as provide an inextricable link between physical delivery and all accompanying processes and documents.

Using blockchain technology for supply chain management will save at least 5% by improving billing accuracy and eliminating middlemen, according to the research from Accenture. 

Document flow

Blockchain can have a big impact on the complex workflow process in the oil and gas industry. This technology guarantees the integrity and safety of data stored in a distributed ledger and contributes to the achievement of a high level of trust. 

The implementation of blockchain solutions and smart contracts makes it possible to accelerate and automate the generation and delivery of new documents confirming the status, ownership and other necessary information about the raw materials.

Ecology

The use of blockchain technology in supply chain management has a positive impact on maintaining environmental safety at all stages of the production and processing of oil and gas products. The ability to trace and identify products in detail reduces the likelihood of data fraud or corruption.

Also, this technology makes it possible to apply solutions that allow effective control of the level of emissions of harmful substances, detailed monitoring of indicators and prevention of climate change.

Software development services for oil and gas industry

The problem of an excessive number of repair personnel and high equipment downtime during scheduled preventive and overhaul repairs

Solution: The system installation of sensors that collect a variety of data on the operation of the equipment, as well as software that analyzes the quality of equipment operation and the performance of repair work.

The need for continuous monitoring by specialists of the processes occurring in the field

Solution: augmented reality (AR) technologies, with the help of which engineers can interact remotely with operators at the production site, coordinating their actions during emergency situations. The use of such technologies can reduce costs by 20-25%.

Natural decrease in the number of experienced professionals as a result of aging, and the complexity and high cost of organizing internships in hard-to-reach fields

Solution: AR/VR augmented and virtual reality technologies that make it possible to create educational simulators that accurately simulate production processes in the field without the need to travel to remote areas.

The problem of maintaining the performance of equipment in particularly hard-to-reach places

Solution: introduction of 3D printing technology, that allows to create downhole tools and equipment components on site, minimizing equipment downtime by 10-15%.

The need to optimize supplies

Solution: with the help of mobile applications and based on data on fuel sales volumes, companies can optimize supply between factories, tank farms and gas station networks. Optimization potential is 10-15%, and taking into account economies of scale – about 20%.

Benefits of oil and gas industry software development services

Intelligence service

At the exploration stage, geologists widely use computer hydrodynamic models of the field to analyze possible mineral reserves and make decisions about drilling a well. The use of stereoscopic visualization tools allows professionals to quickly understand the complex spatial interactions between various geological objects. This significantly increases the efficiency of the decisions made

 

Extraction

To maximize the efficiency of using existing wells, it is important to be able to hold meetings between working groups, with the ability to analyze current indicators and develop operational decisions. For this, split-screen systems are in wide demand, allowing real-time visualization of current indicators, organizing video conferencing sessions and ensuring joint work on documents.

Transportation

The transportation of oil and gas by tanker or through a network of pipelines places the highest demands on safety. Monitoring large amounts of data on the health of infrastructure is extremely important. The use of modular multi-screen systems, adapted for round-the-clock operation with redundancy of the main units, is necessary to control important technological parameters.

Recycling

The refinery is a key facility for converting oil and gas from raw materials to finished products. Process equipment malfunctions can pose a serious threat to personnel, the environment, and the business in general. The use of means of displaying information of large information capacity will reduce the response time to a situation that has arisen to a minimum. The system will quickly and clearly present the current state of the situation and the forecast of its development.

Storage

The total capacity of world storage facilities for oil products exceeds one billion cubic meters. This poses a daunting task for the industry to develop and implement an effective management system to ensure safety. The use of technical visualization tools for round-the-clock monitoring of all technological processes, access control and video surveillance significantly increases the overall security level of the facility.

Sale

Any modern company in a competitive environment, as well as in order to improve its image, requires innovative ways to attract public attention to its business. The use of creative audiovisual solutions allows you to present information about the company's activities, its performance and corporate values ​​in a new way. The current level of technology allows to realize almost any creative idea of ​​a designer.

Digitalization trends in the oil and gas industry

5 Key Trends in the Digital Transformation of the Oil and Gas Industry According to Accenture

Accenture conducted the Accenture Technology Vision for Energy 2019 global energy sector survey on key industry innovation trends and interviewed top managers and CIOs of 168 oil and gas companies from Europe, Asia, America and Australia as part of the study.

The overwhelming majority of those surveyed (94%) said that the pace of technological innovation in their organizations has accelerated significantly over the past three years. Specifically, 79% of executives from upstream and 75% from downstream oil and gas companies say social, mobile, analytics and cloud technologies (SMAC) are becoming the foundation of their technological development.

Accenture's research has identified five trends that will have the greatest impact on the oil and gas industry in the coming years. Among them are the use of DARQ technologies, technological identity, enhancing the professional skills of employees with new technological solutions, cybersecurity risk management and the willingness to work in the "instant market".

The first trend is the use of technologies from the DARQ group, which includes a distributed ledger (D – Distributed ledger technologies), artificial intelligence (A – Artificial intelligence), extended reality (R – Extended reality), quantum computing (Q – Quantum). In the next three years, according to 42% of respondents in mining and 30% in processing companies, organizations will be most affected by artificial intelligence.

At the same time, 80% of the top mining companies and 76% of the processing enterprises agree that the greatest changes in business will come from the integrated use of DARQ. 80% of managers from upstream companies and 90% from downstream companies are already experimenting with one or more DARQ technologies.

Trend number two is the use of technology to identify the unique needs of each customer, search for new demands from consumers and new market opportunities. This approach helps not only to better understand the new generation of customers, but also to build individual relationships with them, taking into account all previous interaction experience. This is borne out by the research figures: 83% of the mining companies surveyed and 76% of the processors surveyed believe that technology will create new ways to find and satisfy customer needs that have not been previously identified.

According to Accenture experts, the third trend is the intensification of employees' skills using technological tools. Researchers have noted the need for the oil and gas industry to apply the Human + concept, in which each employee will use a combination of their own skills and knowledge, along with an ever-changing combination of technologies, from artificial intelligence to training platforms.

For the link to work, oil and gas companies will have to pay great attention to continuous training of personnel. 76% of executives from mining and 63% from processing companies believe that employees have a higher level of “digital maturity” than the organizations in which they work and expect an active digital transformation from the employer.

The fourth trend is the strengthening of cyber defense. By building ecosystems around themselves, oil and gas companies must strengthen cyberspace security in a way that protects themselves and all partners. 91% of executives from mining companies and 85% of processing companies agree that only companies that rethink their approaches to information security can be truly sustainable.

As the fifth trend, analysts named the willingness to work with the "instant market". Direct digital access to customers, combined with sophisticated backend technologies, is enabling business reorientation and bringing new products and services to market faster than ever. Thanks to technology, companies can not only formulate proposals for specific customers, but meet their needs at any given time.

85% of mining executives and 78% of processors believe that providing personalized products and services in real time is a competitive advantage. 67% of those surveyed in mining and 47% in refining companies believe that 5G will have a significant impact on business in the next three years. And top managers in 84% of mining and 76% of processing companies have no doubt that technology will revolutionize the industry by introducing new ways of delivering products and services (for example, unmanned delivery technologies).