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Solving E&P problems with digitisation


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Monday, November 19, 2018
London
The Geological Society

This event follows our Nov 20 2017 forum "Solving E&P Problems with Digitisation"



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Getting value from digitisation is proving harder than many of us thought, but it is quietly transforming our business. There are interesting opportunities around machine learning, working with satellite imagery, helping smaller E+P's get digitally enabled, better analytics on data to improve fraccing, and getting faster warning of developing risks.

Consider for example the advocacy of the CEO and CTO of EOG Resources, a well-respected US shale player, and the Group/Upstream CEOs of BP – they are all affirming that ”digitization” is transforming their business, and that there is a lot more to come.

Perhaps it is worth saying that at the highest level, the “E&P problem” is how to run a profitable oil & gas business with oil prices stabilized (we hope) at say $50/barrel.

Then, the folk mentioned above articulate the impact that “digitization” can have on:

  • Preventative maintenance/operation of surface facilities
  • Drilling and Completions (especially ‘fraccing’)
  • Reservoir Monitoring.

provided the business objective has been clearly and carefully defined.

What do we mean by “digitization” – how about data management in the ‘cloud’, data engineering, analytics, machine learning? And does the typical oil & gas company contain the skills to deliver the promise? Or are they going to become dependent on GE or Schlumberger? I guess we would all have our opinions on whether that was a good idea!!

 

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FEATURED VIDEO

Risk management - panacea or snake oil?
by John Dobson from RPS Energy


"Data analytics. After the strong intro (as ever) talk content grew more interesting as the morning progressed. In addition, often pleasing to have new (young) talent on stage, especially so confident."

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