Global energy consumption is expected to rise by 41 percent between 2012 and 2035. Energy companies are constantly working to meet this rise in demand, exploring for new sources of fossil fuels and building the infrastructure needed to extract and refine them, as well as building new facilities for renewable sources of energy like wind and solar.
Designing, constructing and operating the assets required is complicated and expensive, but effective use of the right mix of software can avoid costly delays and significant budget overruns.
Employing information management with a universal viewing and collaboration tool throughout the capital project life cycle can help energy companies to make accurate and timely decisions, efficiently manage changes during the project and provide up-to-date access to project data to all stakeholders at all times.
Large capital projects such as power plants, oil rigs and refineries have life cycles that span decades, creating significant data management challenges for their owners and operators.
For a typical capital project, energy companies need to be able to:
- Securely share information in a range of file formats
- Make quick and accurate decisions based on the latest information
- Ensure markups and comments are managed and stored appropriately
- Manage project changes in a controlled fashion
- Work remotely with a globally dispersed workforce
Information management systems enable globally dispersed energy companies to manage content workflows and provide access to critical drawings and documentation across the workforce, as well as to third parties.