The use of data-driven cognitive solutions represents a major advancement in the management of oil and gas operations. The authors of this paper discuss data systems that enhance traditional, human-based monitoring systems, with the aim of approaching risk-free operations.
Introduction
Aside from incidents in the oil and gas industry that have caused human and environmental harm, less widely publicized incidents known as financial fatalities have also been matters of great concern. The traditional approach of relying on a voluminous list of regulatory and standards-based manuals provided by professional organizations cannot be considered a substitute for proper learning and practice of ethics and risk management and for real-time data access and analytical tools to monitor operations. The net result has been a growing list, both domestically and internationally, of tight regulations for the industry.
Unfortunately, the general public's distrust of the oil business has also affected companies that have maintained the highest standards of safe and ethical operating practices.
