How can we ensure that this data does not stagnate as a commodity, archived in a database or a drawer, and instead maximize the value of it? Can these measurements be transformed into valuable insights and actionable information for better operational and production results through immediate, informed, collaborative decision-making?
Technology developments and a great appetite for digitalization are helping acceleration towards that goal, and we see great initiatives towards transforming well data into value. Yet, the industry has not earned the full potential of such solutions, as for example illustrated by a McKinsey analysis which reveals that the average offshore platform runs at only 77 percent of its maximum production potential.
Decisions based on inconsistent, incomplete or delayed data can lead to safety incidents, performance issues, and reduced reservoir recovery.
A huge opportunity lies in front of the energy industry, to improve data management and turn data into insights. Working in the O&G industry for the last 15 years, I see that there is room for many operators to realize potential and fast-track results. Here are some of the bottlenecks:
A quality data set should be complete, consistent and available in a timely manner:
WITSML is the industry reference for the transmission of data from rig-site to the offices of oilfield covering drilling, completion, intervention, and plug & andonment operations. It is used to share information among operators, service companies, drilling contractors, and government agencies. Of course, SiteCom is built on WITSML foundations enabling a seamless and efficient data integration. During aggregation, it converts non-WITSML data to WITSML, so that the database is fully WITSML-compliant and not tied to proprietary archiving and retention. SiteCom is also WITSML 2.0 and OSDU-compliant, and we will go through this more in our future blog post series.
Operations are a demanding, dynamic environment: several teams need to remain connected and monitor well conditions in the field, in the office, or in the airport. A quality data set also means that the right information is presented at the right time, for the right person.
Data should be put into the context of the operations objectives. By associating the well activity to the real-time measurements, we can support the user in what they are trying to achieve.
Our platform, SiteCom Discovery Portal (SDP) offers automated workflows and better processes, and helps energy professionals in reducing their admin work. SDP supports improved integration between planning and execution, through a series of applications tailored for offset well analysis, operational performance monitoring, and analysis and predictions for safe and excellent well delivery.
Operators can boost the value of their data for improved real-time decisions and optimized resources recovery. They can do so by choosing a solution that offers a single source of truth; an industrial work surface populated with reliable data, where every user – managers, subsurface specialists, well site and office engineers, can collaborate to make the best decisions in real-time, and learn from previous experiences.
In this blog post we have talked about how throughout well operations, operators collect enormous amounts of complex data, and how they can ensure that these are transformed into actionable insights for better results. The solution is quality, contextualized well data.
With more than 5.000 active users, we are proud to help our customers to run their well and drilling operations in a smarter, safer, and greener way. If you want to know more about it, then you should click here to find out more.
