The SPE Gulf Coast Section organized an interesting data analytics event entitled: “Reservoir/Data Analytics Joint Event: Harnessing Big Data to Enhance Reservoir Performance”. The event included presentations and a panel discussion session with Diego Molinari (Anadarko), Justin Lo (Chevron), Damian Burch (Exxon Mobil) and Hector Klie (DeepCast) to discuss current data analytics projects in the oil industry. Our CEO, Hector Klie, emphasized on the need to achieve digital production by a means of data-driven physics models.
The event took place at Fleming’s Prime Steakhouse, Houston and count on the participation of an audience of approximately 80 people.
Below is a brief description of the event.
Oil and gas companies have been generating huge amounts of data for several decades, and applying "Analytics" to it, long before the term "Data Analytics" became a trending topic. However, the recent improvement in cloud technology, analytics and computing power has enabled the transformation of data into insights that can provide meaningful decision support to both the operational teams and processes, helping enterprises to gain the next level of operational efficiencies. This has been leveraged recently in a number of petroleum applications, including petrophysics, drilling and facilities. But its application to "reservoir" and "reservoir performance" have only scratched the surface; this might be due to a lack of suitable data sets, or an ingrained skepticism of "black box" solutions, or both!
This panel discussion aims to provide clarity on the current technical status of some of the different data analytics projects in the oil industry, as well as generate an in-depth discussion on the typical technical challenges faced while selecting the optimal tools to approach each project.