BIG DATA ANALYTICS IN THE OIL AND GAS INDUSTRY

Application of Big data Analytics in the Industry

In the quest to search for what lies below the surface, oil and gas companies have been exposed to large amounts of data. They have complex systems that have evolved over time and now contain disparate data sets. Big data analytics can play a major role in improving operations and productivity across the industry value chain as follows:

• Machine learning tools which are best suited for analyzing seismic data can reveal relationships between recorded data
• Data gathered from different operations through drilling can be applied to conduct various analyses from scheduling to drilling operations [3] thereby improvingdrilling performance.
• Companies in the business of making big data technologies can develop reservoir management applications. This can be utilized to get timely and actionable information regarding changes in reservoir pressure, temperature, and flow [4].
• In production engineering, big data analytics can optimize the performance of production pumps.
• Big Data analytics manages risks and enhances safety by improving oil and gas occupational safety.
• Predictive analytics can be usedto reduce downtime and maintenance costs of oil refining equipment, consequently improving asset management.

GACN, as Nigeria’s strategic gas aggregator, continues to explore avenues for leveraging predictive analytics statistical techniques in key activities like price aggregation, gas portfolio management, and network code agency services, to make predictions, create reports and inform key decisions regarding gas pricing, DGSO (domestic gas supply obligation) performance, gas demand trends, portfolio growth projections, etc.

The transition towards implementing big data technologies in work operations may not be easy for many oil companies because of lack of expertise and rigidity towards accepting new work practices but once they get around the limitations, they will reap its full benefits.

In conclusion, data is just like crude; it is valuable, but if unrefined it cannot be put to good use.