By Oil and gas operations are intricate processes that help turn the gears of society, powering everyday vehicles and providing the energy that powers our homes. They are also major contributors to the climate change crisis and can cause significant water contamination if not managed carefully. These challenges have shaped the industry’s history and given rise to new innovations and practices designed to mitigate their environmental impacts.
The industry is commonly divided into three operational sectors: upstream, midstream and downstream. The upstream sector focuses on exploration and drilling, while the midstream sector aims to transport and store the extracted natural resources. The downstream sector takes the raw materials and converts them into usable products such as natural gas, liquefied petroleum gas (LPG), petrol, diesel fuel, jet fuel, heating oil, kerosene and asphalt.
Managing the various aspects of oil and gas TARA Energy Services – Calgary, AB operations is a complex process that demands a diverse and highly skilled workforce. The workers are exposed to a variety of potential hazards including explosive gases, high-pressure machinery and physically demanding work conditions. Therefore, the industry has strict protocols in place to safeguard workers and provide them with adequate safety equipment. Additionally, the industry is regulated by a range of government agencies that oversee waste disposal, water usage and emission levels. Compliance with these regulations is paramount to maintain the industry’s social license to operate.
While the extraction, refining and burning of fossil fuels contribute to global warming, the industry has been working hard to minimize these effects. For example, new technologies are being developed that capture carbon dioxide emissions before they can reach the atmosphere. Additionally, innovations like horizontal drilling and directional drilling allow drillers to consolidate wells into smaller pads sites. This can result in up to a 90 percent reduction of the operational surface footprint.
Nevertheless, oil and gas operations continue to be an important pillar of the global economy. They are a source of national revenues and job creation, as well as a major factor in global energy security. Therefore, the industry must balance efficiency, cost and safety with environmental concerns.
Achieving operational excellence is essential for boosting competitiveness and sustaining long-term growth in an industry that has been notorious for boom-bust cycles. As a result, many companies are relying on digital technologies to streamline their operations and enhance efficiency. These technologies include remote surveillance, geospatial analytics and the cloud to transform legacy operations into a more productive model.
The oil and gas industry is comprised of a large and diverse group of companies, with Chevron and ExxonMobil being the largest U.S-based firms. Other major players are BP, Royal Dutch Shell, ConocoPhillips and Occidental Petroleum. In addition to these large multinationals, there are also a number of smaller, regional companies that specialize in specific parts of the oil and gas value chain.
