Improving Oil & Gas Performance with Big Data

Posted by Nikhil Khachane


"Big Data is the oil of the new economy" is the most well known reference amid the three a years ago. It has even been received by the World Economic Forum in 2011. Indeed, Big Data resembles unrefined! It's profitable, yet on the off chance that grungy it can't be utilized. It must be separated, broke down for it to have esteem.

Oil & Gas Companies conduct advanced geophysics modeling and simulation to support operations where 2D, 3D & 4D Seismic generate significant data during exploration phases. They closely monitor the performance of their operational assets. To do this, they use tens of thousands of data-collecting sensors in subsurface wells and surface facilities to provide continuous and real-time monitoring of assets and environmental conditions. Unfortunately, this information comes in various and increasingly complex forms, making it a challenge to collect, interpret, and leverage the disparate data.

Big data services in the oil and gas market are classified into consulting, system integration, and operation and maintenance. Data management component is also segmented into software and services. Data management software includes Corporate Data Management (CDM)/ Enterprise Data Management (EDM), Project Data Management (PDM) and National Data Repository (NDR). Data management services include consulting & planning, integration & implementation, and operation & maintenance. Data business market is also segmented based on oil companiesinto National Oil Companies (NOCs), Independent Oil Companies (IOCs), and National Data Repository (NDR).

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Improving Oil & Gas Performance with Big DataOil & GasData Business in Oil and Gas