The Connected Well is a framework that will allow oil and gas companies to address the challenges above – breaking down the barriers to information sharing across the organization, and enabling the relationships between the data generated by different domains to be analyzed.
There are two main challenges that oil and gas companies face when it comes to getting meaningful applications from data analytics. Firstly, most companies are rigidly structured, and so too is their data. It is common to find the data within the company stored by functional domain, data domain, application domain and performance requirements. These create barriers which prevent information sharing, and more importantly for analysis to take place over all the available data sets within the company to gain real insights that can inform decision making quickly and efficiently.
The second challenge that the industry faces is that of effective information sharing across what is a complex and multi-party ecosystem. Within each domain,
there might be service companies providing bespoke solutions, in-house expertise, commercial off-the-shelf software (COTS), system integrators, and engineering consultancies, all generating data that could be of strategic importance to the company. The problem is
that these are kept separate, and analysed in isolation, which means that it is difficult to understand how different activities in different domains impact on the business.
These two challenges prevent companies from making the types of decisions needed in the current economic climate. Thus far, the oil and gas industry has been good at making strategic decisions based on data in situations where the projects are five or ten years away, and when summary data is sufficient at the other end of the scale in the operational environment of the digital oil field.
The Connected Well then provides the framework for oil and gas companies to have a single view of planning, economic, operational, and technical data across the development, production and operations domains. This, in turn, allows advanced analytics to be performed,
and for companies to adopt a discovery mind-set
to gain new, quantified, insights into the complex inter-relationships at play in the oil field environment.
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