Solution Data and Oil & Gas: Drilling for Future Opportunities

DATA AS A RESOURCE

Data is the Oil & Gas Industry’s Most Valuable Resource


The oil and gas industry is at the forefront of exciting times given technological advances in how data is captured and leveraged for oil exploration and production. The industry has a long history of collecting sensor data from sub-surface oil wells to monitor assets, and can now leverage big data applications to analyze seismic, drilling and/or production data. The result is new and actionable insights that create revenue opportunities, increase drilling and production performance, improve operational efficiencies, and reduce safety or environmental concerns.

Finding and producing hydro-carbons is a process that generates large datasets, requiring new storage technologies that interpret the data faster and with better and more accurate insights.

10TB Daily

Data volumes are now exceeding 10TB of data per day for a single oil well1

80,000 Sensors

Modern offshore drilling platforms have approximately 80,000 sensors, which are expected to generate 15PB of data during the life of the asset2

Shawn Rogers, TIBCO's senior director of analytic strategy, argues that there is no reason for a company to invest in IIoT technology without a plan to connect it to an analytics platform. ‘Simply collecting data has no inherent value’, Rogers said.

SOURCE: EDGE COMPUTING COMES TO THE OIL AND GAS INDUSTRY BY SIDNEY HILL, JR. (OIL & GAS ENGINEERING, 2/1/18)
HOW TO TRANSFORM DATA INTO ACTION

Transforming Data for Real-Time Decision Making


In order for the oil and gas industry to fully realize the potential of data collected and make decisions more quickly, they must have the ability to capture, access, preserve, and transform it from both the edge and within the core. As such, petroleum companies are investing in storage solutions that capitalize on big data analysis to find new revenue opportunities, improve operational efficiencies, reduce costs, and provide competitive differentiation.

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ADVANCING OIL & GAS THROUGH DATA ANALYSIS
 

Western Digital Advances the Oil & Gas Industry with a Comprehensive Portfolio of Products that Capture and Transform Data into Actionable Insights and New Revenue Opportunities

Big Data Repository

Iot Data Lake

High Performance Archive

Exploration

OIL & GAS EXPERTS AGREE

Many types of captured data are used to create models and images of the Earth’s structure and layers 5,000-35,000 feet below the surface and to describe activities around the wells themselves, such as machinery performance, oil flow rates and pressures. With approximately one million wells currently producing oil and/or gas in the United States alone, and many more gauges monitoring performance, this dataset is growing daily…
More than 20,000 companies are associated with the oil business, and almost all of them need data analytics and integrated technology throughout the oil and gas lifecycle.

SOURCE: HOW BIG DATA IS CHANGING THE OIL & GAS INDUSTRY BY ADAM FARRIS (ANALYTICS, NOVEMBER/DECEMBER 2012)

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Disclosures

1.  Source: Data: Is the oil and gas industry’s most valuable resource being overlooked? by Nathan Amery, IHS Markit, 2/21/18    2. Source: Global Big Data in Oil and Gas Exploration and Production Market-Analysis of Growth, Trends and Forecasts (2018-2023), Orbis Research    3. Source: Sakhalin-1 Project Drills World’s Longest Extended-Reach Well, Press Release (ExxonMobil, 1/28/11)    4. Source: IEA Cuts 2018 Oil Demand Forecast as $70 Crude Takes a Toll by Grant Smith (Bloomberg, 5/16/18).  5. Source: Role of Data Analytics in the Oil Industry by Deena Zaidi (Towards Data Science, 10/25/17).
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