1.
THE IMPACT OF DATA IN THE
OIL AND GAS INDUSTRY
Worldwide demand for oil and gas is growing; it’s expected
to reach over 94 million barrels per day by the end of 2015.1
In response, most companies in the oil and gas industry
plan to invest the same amount or more in digital
technologies now and in the future.2
Digital technologies
can help companies reach remote sources of oil and gas at
efficient costs, while continuing to enhance environmental
safeguards, operational safety, reliability, and security.
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(1) https://www.iea.org/oilmarketreport/omrpublic/currentreport/
(2)https://www.accenture.com/us-en/insight-digital-energy-survey-2015-accenture-microsoft.aspx
(3)http://www.cisco.com/web/strategy/energy/docs/OilGasDigitalTransformationWhitePaper.pdf
(4)http://www.idc.com/getdoc.jsp?containerId=253478
(5)http://www.bloomberg.com/bw/articles/2013-07-11/better-fracking-through-sound-sensing-fiber-optics
(6)http://www.intelligentpipelinesolution.com/industrialpipeline/download/GE-IP-Infographic.pdf
(7)http://www.bain.com/publications/articles/big-data-analytics-in-oil-and-gas.aspx
(8)https://www.scoopmae.com/how-enterprise-mobility-benefits-the-oil-and-gas-industries/
(9)https://www.accenture.com/us-en/insight-digitizing-energy-analytics-powered-performance.aspx
Data analysis assists with interpreting
geology, drilling and connecting new
wells, and optimizing drilling
techniques. Bain & Co. estimate that
better data analysis could help oil and
gas companies boost production by
6% to 8%.7
Increases Production:
Remote visualization through the cloud
enables rapid collaboration between a
well site and remotely located experts
to improve the safety, speed, and
accuracy of reservoir decisions. With
enterprise mobility solutions, oil and
gas companies are seeing a 63%
increase in cost savings and a 51%
increase in productivity.8
Enables Remote Collaboration
and Mobility:
Cloud data management centralizes
datasets. Geoscientists, engineers, and
business decision makers can all
collaborate using the same data, saving
time and cutting down on
miscommunication.
Accelerates Workflows:
Centralizing data eliminates the need
for multiple copies. Fewer data copies
means fewer security risks and fewer
challenges to data quality, allowing
experts to maintain a “single source
of truth.”
Improves Security and Control:
Data centralization helps companies
ensure compliance with international
data sovereignty requirements, while
providing them access to information
they need.
Ensures Compliance
One well can
generate up to 15
terabytes of data
per week.5
The world contains about 2 million
miles of oil transportation
pipelines—enough to wrap around
the Earth 80 times. GE estimates
every 30,000 miles of pipeline can
generate 17TB of data every day.6
IDC predicts that usable data
generated in the oil and gas
industry will grow from 52
exabytes total today to 888
exabytes in 2020.4
The Benefits of Data in
the Oil and Gas Industry
1
3
5
2
4
The Global Impact of Digital
Technologies in the Oil and Gas Industry
Business
The use of digital technologies reduces the cost of finding and developing energy and
positively impacts the global economy.
In the Eagle Ford region in North America, improved drilling techniques
and technologies are enabling oil rigs to produce oil 65% more
efficiently now than in 2013.
Oxford Economics estimates that Internet of Everything adoption by the oil
and gas industry can increase global GDP by up to $816 billion by 2025.3
Health, Safety and Environmental Risks
Digital technologies are helping oil and gas companies have a positive impact.
Having detailed data about every part of the production process empowers
companies to identify and prevent potential accidents before they happen,
which in turn helps them protect the environment.9
Remote visualization and mobility solutions make it possible for companies
to have fewer workers on site at wells, reducing employee safety risks.
Sensors deployed
throughout oil and gas
companies’ value chains
generate massive amounts of
data that enable faster and
smarter decision making.3
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SOURCES