Paper Contents
Abstract
The oil and gas industry is undergoing a significant transformation driven by big data analytics and artificial intelligence (AI). This paper summarizes the various methodologies and technologies available to the hydrocarbon community to deliver new tools and methods to move from traditional look-up tables to data-driven insights, reducing more and more the dependence on intuition while the amount of available data is drastically increasing. Many companies in the oil and gas industry operate with extremely advanced technology to optimize the performance of assets. Taking advantage of digital and information technology has allowed companies to deliver significant dividends in the recent past. Despite these advances, many organizations struggle to drive real value from the vast amount of structured and unstructured data available. This approach has the potential to improve efficiency, safety, and decision-making across the entire exploration and production value chain. However, challenges remain in implementing these new technologies, including the need for cultural change, workforce development, and robust data management practices.
Copyright
Copyright © 2024 Ekeinde, Evelyn Bose. This is an open access article distributed under the Creative Commons Attribution License.
