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Top Challenges Influencing the Growth of Oil and Gas Companies | Quantzig

November 21, 2019

LONDON--(BUSINESS WIRE)--Nov 21, 2019--

Quantzig, a global data analytics and advisory firm, that delivers actionable analytics solutions to resolve complex business problems has announced the completion of its latest article that offers comprehensive insights on the top challenges impacting the growth of oil and companies.

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Today’s oil and gas companies have grown substantially because of the scarcity of resources. Oil and gas companies, to get to hard-to-find resources, have built complex organizations with powerful and centralized functions. This model of functioning has enabled oil and gas companies to tackle various technical challenges, manage operations, and deploy the required talent globally. However, the complexities associated with such models make it challenging for oil and gas companies to deliver requirements on time and within a specific budget.

According to Quantzig’s advanced analytics experts,“With the aid of technology and advanced analytics solutions, the opportunity to maximize investments, mitigate risks, and minimize costs is endless in the oil and gas industry.”

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Top Challenges Faced by Oil and Gas Companies

1: Minimizing costs to remain competitive

One of the major challenges that the oil and gas industry is facing today is producing crude oil and refined industrial products at a lower cost. Therefore, optimizing environmental utilities on currently operating sites is the need of the hour for the oil and gas companies.

2: Performance improvement

Extending the life of mature sites has become an important requisite for the oil and gas companies to continue their supply of crude oil or gas. Oil and gas companies are now looking for new sources of oil and gas for which transport, extraction, and refining are undoubtedly more costly and complex.

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3: Meeting environmental regulations

Since the oil and gas industry is a major consumer of energy and water resources, they are subject to stringent environmental standards. This makes them restrategize their extraction, production, and distribution methods to maintain or obtain a license to operate.

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Read the complete article here: http://bit.ly/2reWhFY

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 our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal

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CONTACT: Quantzig

Anirban Choudhury

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SOURCE: Quantzig

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