More and more producers are sharing their data in order to mutually improve how they do business, technology-focused attendees at CERAWeek by IHS Markit said.
For an industry that has been historically hesitant to share its data, centralizing data on the cloud has allowed developers to more readily see the potential to improve their operations by sharing information with companies of varying sizes. While some data remains proprietary, more and more producers are sharing their data in order to mutually improve how they do business, experts in the field said.
“We’ve launched […] the data liberation movement,” said Francois Laborie, the general manager of Cognite North Americas. “That doesn’t mean everybody gets access to everything, but it goes from the stance that, ‘This is my data, everything is mine and I don’t share’ to ‘I’m willing to share everything except…'”
Ozden explained that as oil and gas companies change their exploration and production methods in both conventional and unconventional drilling, they are compiling massive amounts of data. That data, called use cases, is then uploaded into a system that is intended to make sense of the data.
Ozden agreed, saying local decisions can be improved with “global optimization,” as information from around the world is loaded, compiled and analyzed in the cloud.
“The cloud has become so inexpensive that it has democratized this process for any player,” he said.
The digital technology advocates said they believe that the oil and gas industry has made a critical change to its approach by embracing machine learning, artificial intelligence and the cloud and that the sector will become more open and cost effective as a result of those changes.
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The new realities of oil & gas partnerships and what those entail will be discussed at the