Good data analysis can have a direct impact on operational efficiencies and the potential reduction in operating costs as well as improved production and hydrocarbon recovery.
Meta: In the oil and gas industry, Industrial Internet of Things-driven solutions can increase the productivity of drilling and extraction operations by 30% by turning the data from multiple geographically distributed oil wells into informative insights about wells’ performance.
The oil and gas sector is sharpening its digital game. The downturn was a wake-up call. It forced companies to be more resilient in a low oil price environment. And it brought digitalisation to the fore.
It is incredible how our world is changing. Game-changing innovation is already impacting every aspect of our lives. For me, that means helping our clients maximise the value of their data. My aim is to save them money and time, and realise their digital potential.
The launch of the UK’s inaugural National Data Repository (NDR) for petroleum-related information saw the unveiling of a key piece of the UK’s digital infrastructure, complementing the existing National Geological Repository for core and samples.
A crisis management firm is launching a new data system which it said will "protect lives” of workers offshore.
It’s difficult to ignore the emails, conferences and discussion around digital. There is huge focus on what digital technologies can do for our businesses, moving beyond some of the existing digitalisation of our working practices. It’s been helped hugely by the pervasive nature of technology in our lives, Alexa, Siri, couriers arriving at the door and passing you a handheld computer to sign. These technologies help our industry realise that much of this technology is very mature and, in a lot of areas, largely unexploited in the oil and gas industry.
As a region, the north east of Scotland is known globally for its innovative company base and as an exporter of a wealth of skill and expertise built up in the offshore energy industry.
As the CEO of a digital technology business, I frequently get asked what advice I would give to those looking to scale a digital business.
I am not the first of the team here at Return To Scene to write about the palpable buzz of innovation here in the north east of Scotland. As a team we are pretty evangelistic about digitalisation and the role our wee corner of the world is playing in the digital transformation of industry globally.
What springs to mind when you hear the word Data? If you are a child of the 80’s like me, your first thought a couple of years ago may well have been the quirky little tech kid from one of the decades favourite movies, Goonies. A couple of years ago maybe, but there are few today that will not be aware of the intrinsic role that data plays in the digital economy agenda and the reshaping of the industries for which it represents the greatest value.
The industry is still just “scratching the surface” of what can be achieved through greater access to data.
The oil and gas sector is assessing the range of new skills that will be required as it looks ahead to the next 20 years.
Oil companies must put their heads together to prevent a “battle for data ownership” erupting, a corporate finance expert said today.
Digital technology and data could solve many of the oil and gas sector's "broad challenges", according to Petrofac's head of strategy.
Offshore regulator the Oil and Gas Authority (OGA) has said the industry is showing an “insatiable appetite for transparent data” following the latest licensing round.
The service companies that map underground pockets of oil, drill the wells and lift crude from miles below are generating vast new amounts of data they never before realized could be valuable. But their exploration customers are essentially saying hands off to anything coming out of their wells, including the streams of zeros and 1s.
We know we need to be more clever with our data, especially when you look at the cost of traditional enterprise storage.
Baron Oil said steady progress is being made on the seismic acquisition of data onshore Peru. The company said GSS began the onshore data acquisition last month as it looked to collect the first ever 2D seismic programme on Block XXI.
Although the recent data breach of four million customers has placed Talk Talk in the media limelight, it’s by no means the only organisation to have had its security compromised in 2015. Every second of everyday a hacker is trying to infiltrate company networks and, with alarming regularity, we are seeing them succeed. Despite this, it’s not all doom and gloom. The Talk Talk, Ashley Madison and Barclays breaches have generated more than just concern and panic. They have generated awareness. The more businesses know what to look out for and know how to protect themselves, the less likely a hacker is to succeed. Knowledge is power, as they say, and in this case it couldn’t be truer. Simple precautions can help, and everyone can benefit from straightforward advice.
This graphic shows every oil and gas site around the world. The data, collected by the Peace Research Institute in Oslo, Norway, gives a mapped visualisation.
Robert Gordon University (RGU) will launch a new technology centre focused on cultivating data analytics for the oil and gas sector.