Intelligent upstream: Data management strategies for oil and gas production
From digital twins to machine learning, predictive maintenance to advanced analytics, oil and gas companies are increasingly focusing on deploying new digital technologies to improve operations and for very good reasons. The slew of new applications promises to improve asset health, sustainability, and the ability to boost production with less expense. In fact, the World Economic Forum projects that digital transformation efforts have the power to unlock around $1Tn in value for oil and gas companies. In an industry impacted by fluctuating oil prices, ever-changing regulations, and uncertain economic conditions, increasing revenue and efficiencies is the key to bolstering the bottom line.
By refocusing data management strategies and taking a holistic approach to build the right data foundation, upstream oil and gas companies can use new tools to optimize production, increase safety, and improve bottom-line results.
