Data-driven, efficient processes and decisions are at the core of business resilience in the Oil & Gas industry, and especially so for E&P.
Effortless access to data and information can empower subject-matter experts to discover a wider range of unbiased insights, run applications more efficiently, and make better decisions in E&P Subsurface. They can invest more of their time in developing creative, cost-saving approaches to their decision-making processes, deploying and testing different analyses and tools to innovate current workflows.
Data-driven, efficient processes and decisions
The industry is still struggling to make it possible to democratize access to data and information, this is especially the case for E&P.
In fact, isn't the Oil & Gas industry still facing the same bottlenecks as it did 10 years ago? In a 2009 SPE Digital Energy Survey of 200 users representing 30 companies, 90% of respondents said they spend more than 50% of their time and human resources on identifying and formatting the data needed for their analyses.
In data loading, storage, and preparation for analysis, the survey indicated that the greatest problems have to do with collecting data from multiple sources and preparing it for consumption by different software developed by multiple vendors.
How to make data available for analysis without the burden?The burden of manual, repetitive tasks to load, QC, store, and maintain it in different software applications? The answer lies in a modern, cloud-based, open API architecture that:
- Liberates data from source systems
- Allows the implementation of semi- and fully automated procedures for QC and standardization
- Stores the data in an integrated way so that it can always be searched and previewed by all stakeholders involved in the value chain
- Links the data to make the information available for the right context
- Streams a subset of data to domain applications for consumption and enrichment.
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Empower P&E organizations by connecting all data sources and platforms
Cognite Data Fusion (CDF) delivers this foundational empowerment to P&E organizations through a rich suite of open APIs and SDKs for a variety of data consumption cases. Ingestion and query APIs enable a powerful search tool -- based on relevance or on geographic coordinates -- that supports both human- and machine-generated queries.
Cognite Data Fusion also interacts seamlessly with modern software, such as Python, Scala, Spark, Spotfire, Grafana, Databricks, Tableau, and Power BI, among others. This allows users and domain experts to efficiently organize, explore, and accelerate the development of models -- and visualize the results in real time.
Cognite Data Fusion provides a vendor-neutral environment. Users can access data without delving into proprietary databases, and easily launch domain applications via APIs as services on top of the data. Cognite’s other applications, including Asset Data Insight and InField, are only a few clicks away -- as are popular productivity software such as G Suite and Microsoft Office and Sharepoint, as well as specialized tools such as Power BI and Grafana that are commonly used in E&P.
The time for fundamental change in the the Oil & Gas industry is now. Whether in exploration, field development, or drilling, digital technology powered by liberated, contextualized data can help the the Oil & Gas industry industry make trustworthy decisions that save time and costs.
Read also: The True Digital Industry 4.0