Big Data in Field Development Projects

Abstract

Abstract In recent years, new terms and concepts have appeared that describe the digital transformation currently in progress. The world image, including in the industrial world, has been changed by the concept of intelligent enterprise (IE) - a set of technological innovations, including artificial intelligence (AI), intelligent automation (IA), deep learning technologies, predictive analytics and cognitive computing. The increasing complexity of the oil and gas business and the decreasing optimization potential from traditional approaches require the use of new, innovative digital technologies to remain competitive. Responding to the market conditions of falling hydrocarbon prices, the oil and gas industry is increasingly mastering Big Data to optimize technological processes and prevent accidents. The emergence of Big Data technologies, predictive analysis and machine learning are changing the general image of many industries, and the oil and gas industry is no exception. New players are quickly emerging throughout the industry, and digitalization will affect the entire value chain throughout in the oil and gas industry. Among the most promising segments for the transition to digital technologies are asset management and infrastructure facilities, field development, geophysical services, pipelines and processing. Digital technology is the most powerful driver for cost reduction. It is expected that implementing these solutions will, by 2030, reduce the costs of E & P projects by up to 30%. Thus, Russia can leverage these new technologies and retain a share in the world energy market for another 50 years. The oil industry has recently passed the most difficult period in the last 30 years. The fall in oil prices since 2014, the reduction of 350 thousand employees worldwide, and fall in production investment are examples of serious challenges that the industry has faced in recent years. These challenges have resulted in new attempts to optimize business through implementing new technologies to improve the efficiency and profitability of companies.