Enhancing exploration and production with big data in oil & gas
In the oil and gas industry, organizations must apply new technologies and processes that will capture and transform raw data into actionable insight to improve asset value and yield while enhancing safety and protecting the environment. Well and field operations are instrumented to capture a holistic view of equipment performance and well productivity data including reservoir, well, facilities and export data.
Leading, analytics-driven oil and gas organizations are connecting people with trusted information to predict business outcomes, and to make real-time decisions that help them outperform their competitors. But for many, these breakaway results remain out of reach. Despite the wealth of data and content available today, decision makers are often starved for true insight.
IBM big data and analytics platform, now known as IBM Watson Foundations, provides a scalable, easy to use, secure information management and analytics platform for complex and large-scale analysis and economical storage of drilling production data. Successfully harnessing big data unleashes the potential to achieve three critical objectives:
Enhance exploration and production
As oil and gas companies work to optimize operational efficiencies, they also must strive to improve exploration and production. They require better site models and more effective drilling strategies to increase the success of extraction. They also need ways to improve reservoir performance and reduce production interruptions caused by equipment or facility issues.
IBM Watson Foundations enables organizations to:
Improve refining and manufacturing efficiency
Oil and gas companies must also manage increasingly complex refining and manufacturing processes. To help increase worker safety, streamline regulatory compliance, improve the longevity of assets and enable rapid responses to problems, organizations need efficient ways to manage and provide access to accurate information about the current state of equipment, facilities and processes. Maintaining information consistently from year-to-year is especially important as one generation of employees is replaced by another.
IBM Watson Foundations can help oil and gas organizations address pressing efficiency concerns, such as:
Optimize global operations
As oil and gas companies expand to include multiple geographic markets, they must find new ways to optimize an international supply chain, efficiently allocating resources and personnel across the globe. They also need to enhance the efficiency of a broad range of operational functions, from managing partnerships and joint ventures to handling local permitting requirements. Optimizing operations is essential for managing risk and achieving regulatory compliance without raising the costs of compliance.
To fulfill these goals, companies must bring together information currently housed in numerous distinct, siloed systems. IBM Watson Foundations can help oil and gas companies:
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Big data & Analytics Market Manager, Energy and Utilities
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