3D printing has the potential to revolutionize the global supply chain in the oil and gas sector. Over the years, there’s been an array of challenges for the oil-field service in managing the supply chain, cost reductions and ensuring profitability for the long-term. 3D printing in the oil and gas industry has been slowly growing, and predictions have shown that the technology will be worth $32 billion by 2025. Supply chain issues affect many areas of business, such as health, safety, and environmental management. Businesses need to find ways to solve these issues - so could 3D printing be the answer?
An efficient supply chain
3D printing, also known as additive manufacturing, is the process of creating objects and shapes from a digital model – which takes far less time than the traditional manufacturing process. This can reduce costs and delivery times enormously, as well as shorten the length of the supply chain. 3D printing helps improve processes in the oil and gas industry, ensuring a much more efficient supply chain, helping to alleviate delays in remote, offshore locations. With 3D printing, oil and gas companies can benefit from on-demand manufacturing, as well as digital storage of files and data. Ultimately, 3D printing can pave the way for oil and gas companies that are much more streamlined, with products that are distributed digitally.
Improved product development
The oil and gas sector has long been affected by high costs and declining revenues, as a result of a complex supply chain. According to McKinsey, the cost per barrel of oil has risen between 5 and 15 per cent each year since 2009. We’re currently in a downward spiral of oil prices as a result of COVID-19, so businesses need to develop new strategies to safeguard the future of their supply chains. One of the key benefits of 3D printing is that it can improve the efficiency of oil and gas extraction, making the process easier and reducing costs.
Since there are many steps involved in energy processing, which includes transportation and logistics, the supply chain, therefore, uses a lot of resources. With the help of 3D printing, businesses can save a considerable amount. Additive manufacturing optimizes raw materials at low cost and businesses can make multiple iterations of the same product. Also, with 3D printing, oil and gas companies have the potential to radically improve the customer experience because manufacturers will be able to create products based on specific requirements.
What does the future look like for oil and gas?
Like many industries, oil and gas are facing a difficult time, so collaboration and streamlining processes will be key. With 3D printing, oil and gas companies can look forward to a future of on-demand manufacturability. If the industry is to meet its climate change goals, oil and gas companies will need to take advantage of on-site renewables. Energy efficiency will continue to play a key role in the future, as companies seek to optimize upstream consumption of oil and gas. With multiple new technologies being deployed in the oil and gas industry, 3D printing has the most potential to re-shape the sector.
How can TRS Staffing help your business?
There’s no doubt that 3D printing will have a big impact in the future and there’s no better time to be an oil and gas professional. At TRS Staffing, we recruit the best professionals into roles within the oil and gas industry. We have an excellent track record of recruiting highly skilled candidates, and we work to support our clients at every stage of the process. With 3D printing on the horizon, it’s an exciting time to be an oil and gas professional. The industry is on the cusp of change, so there’s a greater need for professionals with the right skills and expertise. Contact us today if you’re looking to hire and take a further look at our news page for more articles and industry updates.
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