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Major Challenges in the Oil and Gas Industry | Quantzig

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Quantzig, a global analytics solutions provider, has announced the
completion of their latest article on the major
challenges in the oil and gas industry
.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180813005316/en/

Top 4 Challenges Influencing the Growth of Oil and Gas Companies. (Graphic: Business Wire)

Top 4 Challenges Influencing the Growth of Oil and Gas Companies. (Graphic: Business Wire)

Nowadays, oil and gas companies have grown considerably as a result of
the shortage of resources. Oil and gas firms have built complex
organizations with powerful and centralized functions to get to
resources that are hard-to-find. This model of functioning has allowed
oil and gas organizations to handle various technical challenges, manage
operational as well as political risks, and organize the required talent
globally. The oil and gas industry is expected to have the greatest
difficulty and demand in the developing world. Decreasing reserves have
obligated these oil and gas organizations to function in an unreceptive
environment and even remote areas.

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a proposal
to know more about our digital analytics solutions.

According to the analytics experts at Quantzig,
"Leading oil and gas companies are using technology to
improve their decision-making process. They are able to tap new
resources, increase recovery rates, and reduce environmental impact with
the help of new and upcoming technologies."

Major challenges in the oil and gas industry

  • Minimizing costs to remain competitive: Today, one of the main
    challenges that the oil and gas industry is facing is producing
    refined industrial products and crude oil at a lower cost.
    Consequently, enhancing environmental utilities and system of
    production on currently functioning sites is the need of the hour for
    the oil and gas companies. This will help in increasing productivity
    in production and minimize extraction and refining costs. Request
    a demo
    to know more about our portfolio of analytics
    solutions.
  • Performance improvement: Increasing the life of mature sites
    has become a significant requirement for the oil and gas organizations
    to continue their supply of crude oil or gas. Oil and gas firms are
    now looking for new sources of oil and gas for which extraction,
    transport, and refining are certainly more costly and complex. So, the
    oil and gas industry is faced with the challenge to guarantee that
    their plants are dependable and have no unanticipated shutdowns. Get
    in touch
    to know more about how we can help you overcome
    the major challenges in the oil and gas industry.
  • Meeting environmental regulations: Since the oil and gas
    industry is the main consumer of energy and water resources, they are
    subject to severe environmental standards. This makes them reformulate
    their production, extraction, and distribution methods to maintain or
    get a license to operate. There is also the challenge of guaranteeing
    transparency in the environmental management of their processes. In
    countries like China, water has become a serious issue along with air
    pollution. So, in such countries, environmental standards are
    extremely regulated.
  • Visit our
    page
    , to view a comprehensive list of the major challenges
    in the oil and gas industry.

Quantzig
is a pure-play analytics advisory firm concentrated on leveraging
analytics for prudent decision making and offering solutions to clients
across several industrial sectors.

Request
a proposal
to see how Quantzig's solutions can help you.

View the complete list of the major challenges in the oil and gas
industry:

https://www.quantzig.com/blog/challenges-oil-and-gas-companies

About Quantzig

Quantzig is a global analytics and advisory firm with offices in the US,
UK, Canada, China, and India. For more than 15 years, we have assisted
our clients across the globe with end-to-end data modeling capabilities
to leverage analytics for prudent decision making. Today, our firm
consists of 120+ clients, including 45 Fortune 500 companies. For more
information on all of Quantzig's services and the solutions they have
provided to Fortune 500 clients across all industries, please contact us.

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