To analyze its data coming from various sources and systems by using analytical models.
The customer is an Exploration and Production Company, headquartered in the USA, focused on organic growth through active horizontal drilling programs. Their operations also include marketing of crude oil, natural gas and natural gas liquids.
The company intended to analyze its data coming from various sources and systems by using analytical models. The result of analytical modeling would help them to make crucial business decisions and explore more business opportunities.
Any E&P company has to deal with data coming from multiple sources and systems. There is SCADA data, fracking data, geological data, and so on. The data also comes in a number of different formats & frequency, some of which is structured and some unstructured. Systematic organizing of all the received data is an uphill task. And, to generate meaningful insights from such data takes the existing concern to another level.
Our client faced similar issues. The company was good at storing the data gathered from numerous sources, yet, the data was still scattered and unorganized, causing ambiguity.
Working on this data to acquire insights was a bigger challenge. Even if the client had to address a simple business issue, they had to toggle between several applications at the moment of need.
Also, with the oil prices dipping to an all-time low, there was a pressure for continuous improvement and optimization. They knew that Big Data and Analytics could address many of their issues, but, to find a trusted partner who could initiate this drive was a matter of larger concern.
Cloud-based Upstream Analytics Solution
EVRY, as a solutions partner, designed a cloud-based solution to address seamless data integration. Data from data warehouse, SCADA, drilling data, fracking data and weather / climate data were integrated and visualized on a single platform. Next generation Business Intelligence with descriptive, diagnostic and predictive analytics was introduced to support and improve the decisions made by the customer to help them invest in the right direction. Furthermore, the customer has already started gaining better control in the way the oil mining is being operated and increase the throughput of the oil wells.
A cloud-based solution, which offers an impressive bunch of features including structured and unstructured data integration also supports dynamic schema evolution to accommodate changes in the sensors’ data structure. Data processing is now being inherited by the latest big data trends! Data mining and statistical modelling for well yield predictions is being executed in real time and visualized using state-of-the-art customizable dashboards.
The benefits derived out of the solution were many, both with respect to data aggregation and operational efficiency. A few of them that stand out are: