As global energy demands rise, the oil and gas industry faces mounting pressure to optimize operations and reduce costs. Chandan Sharma, director of the SAP Practice at PriceWaterhouseCoopers (PwC), is leading efforts to address these challenges.
With a focus on SAP Enterprise Asset Management (EAM), Sharma has driven initiatives that streamline maintenance processes, improve operational efficiency, and introduce predictive analytics to some of the world’s largest oil and gas companies.
Digital Transformation Through SAP EAM
Sharma has spent the past nine years leading multi-million-dollar projects at PwC, focusing on digital transformation for Fortune 500 clients in the oil and gas sector. His core specialty, SAP EAM, is a comprehensive solution designed to manage the life cycle of physical assets, ensuring they perform efficiently while reducing operational risks.
Sharma’s work revolves around asset-intensive industries, where companies like Chevron and Shell depend on the smooth functioning of large-scale infrastructure, from offshore platforms to oil refineries. Through SAP EAM, these companies can better manage their equipment maintenance, leading to fewer breakdowns and improved productivity.
“Asset management is central to operational success in oil and gas. SAP EAM helps us reduce downtime and optimize asset performance, which is critical for businesses managing high-value assets,” Sharma says.
His leadership has been particularly effective in guiding companies through the challenges of SAP EAM implementation, ensuring a seamless transition from traditional systems to more integrated, data-driven platforms.
Enhancing Mobility with SAP Asset Manager
Sharma has implemented the SAP Asset Manager, a mobile application that provides field workers with real-time access to essential asset health and performance data. This mobility solution has transformed how maintenance is conducted in oil fields and refineries. Technicians receive instant updates and notifications about equipment status, eliminating delays in maintenance and repairs.
With oil and gas operations spanning vast geographies, from offshore rigs to remote drilling sites, SAP Asset Manager allows field teams to remain connected and make informed decisions on the go. This improvement has translated to significant cost savings and reduced operational disruptions. For industries that rely on continuous production, these advancements are invaluable.
“The mobility solution has improved worker efficiency on the ground, providing them with the tools and information they need in real time. It’s a game-changer for maintenance teams working in remote locations,” Sharma explains.
The adoption of SAP Asset Manager under Sharma’s leadership has demonstrated clear results, including a notable improvement in worker productivity and asset uptime. Companies utilizing the technology report better coordination between field workers and management, leading to faster repairs and minimized downtime.
Driving Predictive Analytics with SAP APM
Aside from mobility solutions, Sharma’s work has included implementing SAP’s Asset Performance Management (APM), a predictive analytics tool that helps companies anticipate equipment failures before they occur. For oil and gas companies, where unplanned downtime can cost millions, predictive maintenance is crucial.
The integration of SAP APM allows companies to collect data from sensors installed on machinery and equipment and use that data to forecast potential issues. By identifying patterns and anomalies, APM reduces the risk of sudden equipment failure, leading to a proactive maintenance strategy that saves time and money.
“Predictive maintenance is helping us shift from reactive to proactive asset management. Instead of waiting for a problem to arise, we can now prevent it, which makes operations much more efficient,” shares Sharma. The data-driven strategy has provided clients deeper insights into their asset health, allowing for better decision-making and long-term planning.
Impact on the Oil and Gas Sector
The oil and gas industry, which traditionally operates with high-value assets that require constant maintenance, has greatly benefited from Sharma’s contributions. His implementation of SAP EAM, coupled with mobility solutions and predictive analytics, has helped major oil companies streamline operations and reduce costs in an increasingly competitive market.
A report by MarketsandMarkets estimates that the global enterprise asset management market will grow from $3.4 billion in 2021 to $5.5 billion by 2026, largely driven by industries such as oil and gas adopting digital transformation strategies. SAP EAM is in the middle of this shift, helping businesses to manage their assets more effectively while preparing for future challenges.
Sharma’s method of integrating SAP solutions has not only improved operational efficiency but also encouraged a culture of innovation within the industry. As the oil and gas sector continues to evolve, adopting advanced technologies will be crucial for maintaining competitiveness and supporting long-term sustainability.
Advancing Asset Management in a Changing Industry
As the industry faces growing environmental and operational challenges, Sharma’s work in SAP EAM is paving the way for a more sustainable and efficient future. His focus on mobility and predictive maintenance is consistent with the broader trends toward digitalization and automation.
The future of asset management in oil and gas will likely continue to build on the foundations laid by Sharma and his team at PwC. With further advancements in predictive analytics, cloud computing, and IoT-enabled devices, the potential for even greater efficiency gains is immense.
For oil and gas companies seeking to optimize their operations and reduce costs, SAP EAM, with innovative tools like SAP Asset Manager and SAP APM, will create more efficient, data-driven operations that will define the industry’s next chapter.
Disclaimer: The views and opinions expressed in this article are solely those of Chandan Sharma and do not represent the views, policies, or positions of PricewaterhouseCoopers (PwC) or any other affiliated entity.
