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Data Science for Oil & Gas

“Data is the new Oil,” people like to say. For oil & gas producers, that is a concrete reality!

Few operations produce the staggering volume and diversity of data, that oil & gas production can. Almost none are as large, complex, and competitive. Sound data science can unlock efficiencies at every level of production.

Large upstream oil & gas operations must plan and execute multi-year project schedules. They must bring new wells online, and taper off depleted ones, while carefully balancing costs and production needs. They must continually monitor and control hundreds of wells, massive mazes of pipelines, and a large number of other components like tanks, valves, separators and pumps. Many strategic, tactical, and operational questions arise:

• How can the optimal balance between project costs and market demand be achieved?
• Should we drill more wells? If so, how many? On what schedule?
• What should next quarter's production target be?
• Will we meet today's production target?
• Which equipment needs maintenance? What is the projected impact on production?

Oneirix Labs designed a platform for rapid creation and execution of a large number of possible scenarios, at various resolutions. Our design lets customers judiciously integrate massive production datasets with models of the complex physics of production.

The platform lets us model intelligently, experiment extensively, and respond to fast-changing environments. This leads to better future projections that inform robust decision-making about production and infrastructure development.

© Praesagus RTPO Pvt. Ltd. 2015