The German software company will form a strategic partnership with Crescent, one which will allow the latter to streamline its business and drive efficiencies across its operations.
Already showing signs of being a fruitful collaboration, the oil and gas giant now has more than 300 applications that cover the essential aspects of industry operations: drilling, maintenance, procurement, human resources and more.
Creating a digital footprint
SAP’s S4/HANA platform is an integrated and streamlined solution which mitigates the need for profuse paperwork and allows all aspects of Crescent’s business to be managed in one consolidated location.
The company will also be extending the scope of its digital capabilities by integrating IoT elements into maintenance frameworks, such as sensors which can detect faults in advance and perform checks on structural integrity.
Ravi Kumar, Chief Corporate Officer at Crescent, believed that the partnership demonstrated an understanding within oil and gas that undergoing a digital transformation is crucial for the industry going forward.
“The digital oilfield market in the Middle East demonstrated how important digital transformation is for oil and gas companies focused on driving operational efficiency and excellence.
“With the successful roll-out of SAP across the UAE and Kurdistan Region of Iraq, we have a real-time, digital foundation to support our growth into the coming decades as we unlock the value of the energy resources in the region.”
Of equal importance to Crescent, Kumar explained, was the company’s opportunity to “make an impact in the communities we serve, and achieve our vision for promoting energy and social sustainability.”
Embracing Industry 4.0
Crescent’s decision to undergo a digital transformation with SAP’s guidance is indicative of the rising trend of ‘the fourth industrial revolution’ or Industry 4.0.
Envisaged as the moment when industry is finally able to optimise the technological innovations of the third industrial revolution (IoT, AI, 3D printing, etc), Industry 4.0 is predicted to transform the way we live, work and experience the world.
The efficiencies unlocked by intelligently setting a business plan within a digitally incorporated framework are profound; the difference could be very stark between those who are ahead of the trend and those who are left behind.
Evidently set on not being the latter, Crescent’s collaboration with SAP is likely to maintain the former’s position as a premier regional upstream authority in the oil and gas sector.
“Crescent Petroleum has chosen to adopt global best practices in digital transformation by simplifying and standardizing processes to enable oil and gas innovation,” said Zakaria Haltout, MD of SAP UAE.
“By harnessing SAP’s intelligent services and industry-best practice library, Crescent Petroleum has become an Intelligent Enterprise across their operations.”