Improving productivity in the 21st century through technology.

Abstract

The force of information technology (IT)-essentially a staggering combination of computers, networks and application software-is pervasive and growing daily. In the industrial sector, IT dismantles barriers and encourages the development of a global market. IT encourages us to look at how business is done and how it could be done better. IT grows new business. At its core, IT helps bring people together. IT cements the links between client and product developer or service provider, between designer and manufacturer, and between diverse parts of a global organization. It aids team-building everywhere, not just within an organization, but also with partners and clients. IT enables the virtual organization.Knowledge management is a prerequisite for the growth and prosperity of the E & P industry in the future-a commitment each of us should make to lead the industry forward. The synergy gained by merging knowledge and technology provides a basis for increased oilfield efficiency.A structured approach to reservoir optimization provides the vehicle, supported by knowledge management systems that offer best practices and multidisciplinary expertise to solve oilfield problems. These steps provide a path for achieving cost reduction and reserve recovery targets vital to the future growth and profitability of the E & P industry.