The oil and gas industry encompasses a wide breadth of regulations and standards. Nine federal regulatory agencies govern the oil and gas companies within the United States, in addition to further regulatory compliance rules imposed at the state and local level. These regulatory bodies include the Environmental Protection Agency (EPA), the Pipeline and Hazardous Materials Safety Administration (PHMSA) and many more. Organizations affected by these compliance requirements include oil and gas operators, gas companies, and oil and gas service companies.
As the consequences and financial penalties of non-compliance can be detrimental, keeping pace with changes to standards and regulations is of the utmost importance.
Oil and gas regulations change frequently, and it can be challenging to manage the constant influx of new federal laws. To ensure compliance, oil and gas companies must be on alert for new standards and regulations from multiple agencies – a highly tedious (and expensive) process. Fortunately, there is a solution: AI.
We recently held a webinar to explore the various standards challenges organizations are facing in the oil and gas sector and how AI tools can help increase efficiency, create a robust compliance program and control costs.
Watch the webinar recording here
Regulatory Compliance Challenges in the Oil and Gas Industry: Staying Ahead of Changing Regulations and Standards
In the first section of the webinar, we discussed how AI can help engineers at oil and gas companies manage compliance risks and changes to industry standards and regulations. Regulatory compliance for oil and gas companies involves adhering to a complex set of regulations and standards from various governing bodies. Oil and gas industry standards change frequently, for a variety of reasons:
- Regulatory and policy changes
- Technological advancements
- Industry feedback
Keeping track of all the changes and updates to standards is a full-time job — a job that AI can assist with. AI tools can create automated alerts whenever a standard changes and enable side-by-side comparisons of historical and active documents, so you can understand exactly what changed and how it will impact your project. This will also decrease your risk of safety incidents, operational shutdowns and legal liabilities.
Enhancing Regulatory Compliance and Safety in the Oil and Gas Industry
Our second topic of discussion was process engineering, a critical segment of the oil and gas industry. Continuous improvement of workplace safety and efficiency is always on the forefront of process engineers’ minds, especially when addressing environmental compliance risks.
In addition to environmental risks, health and safety standards are essential in identifying, evaluating, and mitigating potential hazards in the industry.
Process engineers work in dangerous environments where safety is paramount. Reliable, safe and efficient operations are crucial to help reduce unplanned, costly shutdowns. Process engineers also play a crucial role in monitoring greenhouse gas emissions and supporting compliance with environmental laws.
Staying up to date with new industry developments can help you make decisions with confidence and meet desired efficiency and safety goals. You can ask an AI-powered research assistant a question about your process and it will search all relevant industry standards before leading you directly to the answer in a standard. This enables the quick resolution of problems and improves engineer efficiency in challenging environments.
Mastering Compliance in Oil and Gas: Stay on Budget and On Time with Complex Engineering Projects
Last, but certainly not least, the third part of our webinar explored project management: one of the most challenging intricacies in the industry. Adhering to allocated budgets and set timelines for projects can be difficult, especially when many initiatives involve a host of different internal and external stakeholders. Effective project management is critical to avoid delays, increased costs, contractual disputes, loss of credibility and project failure.
Engineers can leverage AI tools to learn from past experiences, collaborate with project stakeholders, and uncover the digital thread of insights. AI can help create new, higher quality concepts faster. Uploading previous design plans and blueprints to AI algorithms can allow you to quickly pinpoint possible development approaches based on the analysis of past data.
Discover AI Solutions for Compliance in Oil and Gas Operations: Watch Our Webinar Recording
Ensuring regulatory compliance in the oil and gas industry is a continuous challenge, with evolving regulations, environmental laws, and health and safety standards shaping operations. Oil and gas companies must stay ahead of risks by leveraging AI to streamline reporting, enhance due diligence, and mitigate environmental risks.
From managing hazardous materials to adhering to gas regulations and export controls, AI-driven solutions can support compliance teams in meeting legal requirements while improving efficiency and reducing costs. As regulatory agencies continue to enforce stricter guidelines, staying compliant is critical to avoiding financial penalties and operational disruptions.
Don’t let compliance challenges slow down your business—watch our webinar recording to discover how AI can help your organization navigate the complexities of compliance in oil and gas operations.
Watch the full webinar here or check out our full webinar library!