YGC launches enterprise software venture for oil and gas industry

US firm YGC has launched a new venture, Hupbeat, to maximise workforce flexibility in the oil and gas sector.

Hupbeat is an enterprise software company based in the US.

The oil and gas sector in the US is currently facing an oil price plunge due to a price war between Saudi Arabia and Russia, as well as the impact caused by the unprecedented coronavirus (Covid-19) pandemic.

Almost all the big oil and gas companies are cutting spending this year following the plunge in oil prices.

Hupbeat product head Erik Huckle said: “It has never been more important for energy workers to showcase their transferable skills, expand the pool of employment opportunities, and become a more resilient workforce.”

After a series of executive summits conducted by YGC, Hupbeat received guidance from innovation executives of oil and gas companies BP, HESS, Chevron, Fluor and Saudi Aramco to create its first product, the Hupbeat Elite Network.

The Hupbeat Elite Network is an accelerated workforce planner and a talent network.

Hupbeat has discussed ways to promote their members with oil and gas professional organisations, such as the Society of Petroleum Engineers (SPE) and Association of American Petroleum Geologists (AAPG).

Certifying organisation National Association of Corrosion Engineers (NACE) is also in early talks to work with Hupbeat and other collaborating groups.

Dr Nils Kaageson-Loe of SPE Strategic Initiatives said: “As the oil and gas industry workforce goes through digital transformation, it’s important for our members at SPE to be able to partner and discuss challenges with industry leaders.

“External partners like YGC help us navigate the upcoming change in the industry.”

YGC has appointed former Amazon senior product manager Erik Huckle to lead the roadmap of Hupbeat product.