For improving the business operational efficiency of oil and gas asset, the industry is addressing the oil and gas ERP software solution for supporting management of operations in real-time. These include production monitoring, drilling management, equipment management, loss management and several other service operations.ERP system plays a crucial role in standardizing business processes in the oil and gas sector. This is especially required as oil and gas industry has enormous units scattered geographically with multifaceted supply chain demands and augmented competition. Oil and gas ERP system provides all the essential techniques to restructure these functions. However, the intent of business standardization is not just about cost savings, but it is also about the viable benefit and flexibility added to the business by allowing quick movement into the world market and adjustments of workload in offices.