An Overview Of Oil And Gas Service Companies

By Olivia Cross

There are quite a number of companies that are involved in oil and gas industry that rake in profits in terms of billions of dollars per financial calendar. While some of the oil and gas service companies in Houston TX are integrated, some are not. However, all will do business based on their strategic placement in the industry. This means that they are either involved in production process, refinement, or exploration of these resources.

There are several categories that define what these integrated companies do and these include; downstream and upstream business ventures. Some are able to undertake both of the mentioned categories tremendously increasing their overall output and profits. It all comes back to the number of years they have been in operation, capital base, as well as the technology that they are using.

The companies that are always in line with upstream category are often involved in production and exploration of the oil and gas resources. This is a little bit different with those that focus their energies on downstream; of which, includes, refinement of the products and marketing activities to sell on different markets. However, not perform well in all the categories that have been mentioned.

You should always know one thing about the firms involved in this lucrative industry if not all. That thing is that they are usually counter-intuitive. This means that their behaviour is not usually tied to the market forces. It can also be said that, it is possible for them not to make a lot of profits even at the time prices of end products are up, due to some factors put in place.

These providers have challenges or difficulties they go through during their day to day activities and that is the reason why they are trying to automate most of the things they do, both offshore and onshore. Some of these challenges are in the areas of HSE, carrying out complex tasks, course performance, innovation, etc. In all the sittuations, technological advancement and its implementation is helping them a lot.

The technological advancement has made it possible for many of these firms to automate their activities. The automation is very visible in the area of data collection and analysis. This is the main reason why room for errors in dangerous areas and tasks are currently minimized leading to effective operation. As a result, overhead and its associated costs when running these operations, are reduced drastically.

The automation maintenance processes has moved to new heights improving the level of level production and exploration. Presently, the use of radio frequency and other sensors that fall in the same range has improved tracking activities. This means that these companies can now be able to monitor equipment than never before. Note that is is only but one technique that they use in maintenance, and to keep equipment up and running for better performance.

Some of the service providers have their headquarters located in Europe, Unites States, Asia, and the The Middle East. The most notable include but not limited to; Royal Dutch Shell, Exxon Mobile, Pemex, and Saudi Aramco. The others that are equally have a large market share are; Total SA, Gaz Prom, and Exxon. However, there are literally hundreds of integrated companies that can be listed and are high performers in the oil and gas industry.

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