The oil and gas industry has withstood a turbulent first half of 2020
While the global oil price may have recovered somewhat since the sudden collapse in March, the effects of the ongoing novel coronavirus pandemic will be felt for years.
The past six months have turned the industry on its head. Companies that had been planning to grow suddenly found themselves searching for places to cut. Reducing costs while optimizing production has shot to the top of the agenda.
So far, there is one line item that forward-looking companies aren’t touching: digitalization. At Cognite we believe that using data to reduce inefficiencies and bring forward new insights is crucial for this new age of industry, and we’re seeing that our customers, new and existing, continue to invest in industrial technology and domain knowledge to create value.
Together, we’re breaking down data silos to create evergreen Operational Digital Twins that deliver on the promise of truly data-driven operations: rapid value outtake. With liberated, contextualized data at their fingertips, oil and gas companies can decrease the costs of developing digital solutions and increase their value by rolling them out to fleets of assets quickly.
We’re focused on creating value in areas such as:
- Production Optimization: identifying and eliminating unnecessary constraints and process bottlenecks.
- Smart Maintenance: using in-depth data exploration and analysis to make informed and effective maintenance decisions possible at every level of the organization.
- Digital Worker: empowering experts with data and tools that help them increase safety, reduce waste, and save time.
It’s all about liberated, actionable industrial data
The fastest path to tapping into the value potential of digitalization in the oil and gas industry starts with getting the right data to the right user with the right context for the right problem at the right time. However, the reality is that industrial data is still not easily accessible. It remains trapped in different systems, requiring data scientists to spend hours searching, collecting, and preparing it for analysis.
Shaped by contextualization
Cognite Data Fusion integrates and contextualizes all industrial data, including sensor data, process diagrams, 3D models, event histories, asset models, unstructured documents, and more, making it securely available, explorable, and actionable to all data consumers -- human and machine -- within and outside the industrial enterprise.
Generate advanced models that combine data science and physics to generate synthetic data, complemented with machine learning and deep learning for scale. Observe, analyze, and optimize to deliver reliable forecasts and actionable insights.
From one to many
Create a model for one asset, then scale it effortlessly across an entire installation. Spend less time, effort, and resources on finding, cleaning, and contextualizing data, and more time on generating value.
For more information about how an Operational Digital Twin can reduce the time to value for your company, download this white paper on how contextualized data and digital twins provide a complete, actionable understanding of industrial operations.