The upstream industry is at a critical juncture. Downward pressures on oil prices are leading to investment cuts in digital oilfield projects. But the current environment can provide a perfect breeding ground for innovation. In the current oil price environment, it is more important than ever to ensure every well and field is operating to its most efficient capacity.
For this reason, the oilfield analytics market continues to drive forward. It is estimated that in 2015, the Digital Oilfield services market will continue to grow by 40% – to more than $3.18 billion. And 50% of O&G companies will have advanced analytics capabilities in place by 2016.
Every producing well emits huge amounts of data every second as well as having vast amounts of unstructured engineering information and diagrams. It has been estimated that only 1% of the information gathered from about 30,000 separate data points is being made available to the oil and gas decision makers. At the same time, it is estimated that better data analysis could help oil and gas companies boost production by 6 to 8 percent.
To capitalize on these opportunities at this critical moment, on June 16-17 2015, 150+ senior level production operations and IT executives will gather at the Data Driven Production Optimization Conference. Leading experts from Hess, Marathon Oil, Halliburton, Baker Hughes and many more will gather to discuss their best practices and strategies in the realms of data management, visualization, analytics, reliability data, RTOCs and collaboration.
Highlights of the conference are to include:
- Engineers from Hess to give big data visualization demonstrations- understand how they have turned the ‘big data’ ideal into a reality and optimized productivity
- Interactive panels sessions- pose your questions to the data and analytics experts and understand the road map from real-time operations to advanced analytics
- Plan a predictive maintenance strategy and understand how mobile technology can bring the field to the engineer with presentations from Marathon Oil and SAS
- Understand how real-time monitoring can be used to make operations safer, with insight from the Ocean Energy Safety Institute and debate whether real-time operations centers should be made mandatory Data Driven Production Optimization
For more information on oil and gas data analytics and the 2015 Data Driven Production Optimization Conference, visit: http://bit.ly/datadrivenpo