Oilfield Technology - May/June 2020

he oil and gas industry is currently talking up the

importance of data analytics, machine learning,

and AI (Figure 1). A hyper cost-conscious market

continues to fuel the urgency for operators and

those in the service sector to maximise productivity

and minimise inefficiencies. In order to raise the

performance bar overall, companies recognise they

must embrace advanced analytics or be left behind

a constantly shifting technology curve. A recent

GE/Accenture report survey showed that 81% of senior

executives believe that Big Data analytics is one of

the top three corporate priorities for the oil and gas

industry through 2018.

The seemingly boundless

potential of Big Data has led to numerous conceptual

promises but, so far, very little in terms of concrete

delivery.

Richard Toomes and Matthew Offenbacher, AES Drilling Fluids, USA,

argue that new, ‘revolutionary’ data tools can best be introduced to the

industry through collaboration and achieving well-defined, basic objectives.