Resources for Innovation Still Needed Amid Oil, Gas IT Budget Cuts

“Energy companies recognize value not only in understanding what happened but the ability to predict future and prescribe anecdotes for complex problems and discover opportunities too complicated for the human brain to process,” Niven noted.

Cognitive computing and natural language processing are in their infancy but promising technologies for oil and gas. Advanced analytics computer systems are trained using artificial intelligence and machine learning algorithms to sense, predict, infer and even reason to a certain extent, said Niven.

How will these technologies impact IT? Niven said that every energy executive he talks to wants analytics. The increasing use of analytics will draw on a variety of internal and external data sources, and require IT teams to have skills and expertise in data science and engineering.

While these technologies can help companies, they should first investigate what they want to accomplished before investing in these types of technologies, Niven said.

“It is critical to understand business purposes and objectives to achieve analytics for it to be meaningful.”

While analytics can be a powerful tool, using analytics can increase a company’s risk of a cyberattack.

Read more at: Automation of Oilfield Operations to Double by 2020


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Ali Garkasi  |  January 11, 2016
The article of Karen about the technology needed during the slow period time; I think this is good and the industry should think of innovative things that may add value to the operations during the slow and boom time. I was also involved in real time monitoring of complex wells to follow up on the progress of the drilling operations. This area has potential applications and need to be further developed. I have also few ideas on how to reduce allover cost and expenses during the slow period and wish to contribute and develop these ideas working within a team as consultant to discuss and evaluate these ideas for further development. Today with depressed market, it is hard and not easy to approach oil companies to negotiate something to add value to their current work.