Data mining/analysis
Over decades of exploration and production, the oil and gas sector has accumulated vast amounts of legacy data in various formats. Artificial intelligence and machine learning present an opportunity to transform how this unstructured data is processed and used, enabling significant improvements in operational efficiency and decision-making.
A roundtable discussion during CERAWeek pointed to the necessity of a mindset shift for the oil and gas industry to tap into AI’s true potential.
Technology and partnerships play a pivotal role in how the oil industry finds and produces energy from frontier regions and brownfields, both now and in the future.
-
Big-data mining techniques can help determe the type-curves and the resulting estimated ultimate recovery of an asset being evaluated for acquisition. -
Considering the significant weight of drilling costs in upstream ventures, saving even a few hours of drilling could lead to substantial cost savings on the overall capital expenditures (Capex). Thanks to the big data revolution, cost optimization still has strong potential in drilling operations.
-
R&D may be the key to the survival of companies as the new economics of the industry take hold.
-
Public clouds are one of the emerging technologies that are minimizing the cost of processing the big data of the oil and gas industry. Among the hurdles to the wide-scale adoption of the cloud are security and access cost.
-
No longer considered a buzz phrase, cloud computing has made converts of the largest oil companies, and now the smaller ones are next.
-
Leveraging data to drive the best technology solutions and inform business strategy is the route to future industry success, says a US independent’s top executive.
-
An industry expert said that workforce education will be critical to helping companies adapt to a changing data landscape and optimize their operations.
-
Always recorded but almost never used, the water hammer signal could offer completions engineers another set of insightful data if petroleum engineers can crack its code.
-
The potential of big data depends on the ability of companies to change the habits of its users.
-
Figuring out the right price for an active oil and gas field is tricky business in the shale sector but one producer explains how it uses data analytics to get a clearer picture.
