With pressure on cost of production and maturing wells in the North Sea, data and advanced analytics hold the key to accessing every barrel.
To grow market share and be competitive, it’s clear that companies must understand and implement their own data driven production methods … and fast.
By some projections, data driven production methods such as IoT applications could reduce production and lifting costs by more than $500million of a large O&G integrated company with annual production of 270million barrels (Deloitte).
An estimated 3billion barrels of untapped oil still sits beneath the UK continental shelf, according to the OGA, with forecasts suggesting that the North Sea will continue to produce for decades to come. In order to maximise the return on investment in production in this area companies are looking to cut costs and drive more efficient operations.
That’s why the digital oilfield is the oil & gas industry’s hotbed of innovation, with an estimated global value of £24billion by 2020, technologies such as automation, machine learning, artificial intelligence and virtual reality are disrupting the traditional modes of production for the Oil and Gas industry and delivering greater efficiency, optimised production and safer operations.
This October, at the Data Driven Production North Sea Conference (October 31-November 1) more than 120 attendees from across the region’s digital oil field community come together to drive efficiency, optimise production and achieve operational excellence in the North Sea.
As the North Sea’s only digital technology meeting dedicated exclusively to delivering greater efficiency and optimizing production, it is designed to foster working relationships, the exchange of ideas and best practices to equip operators with the tools to implement data-driven production strategies and gain a competitive advantage in an era of low oil prices.
What you can expect:
Exclusive case study from Engie E&P “Cygnus, a flagship greenfield build – the good, the bad and the ugly” a retrospective view on the importance of ensuring digitialisation is fully embedded in the FEED process and working alongside vendor companies in the tender phase so that their innovations can be leveraged to their full potential to maximise a field’s full digital capacity;
Statoil on their digitalisation of the subsurface. How Statoil has operationalised the digitalisation effort through process digitalisation, advanced analytics and robotics leading to improved safety, optimised decision;
The chance to sit down and collaborate with operators on key issues to propel the industry forward with interactive workshops on change management and how to facilitate greater industry collaboration on a harmonised set of data standards to reduce time spent on data transformation;
Explore the latest innovations in the oil and gas market at our brand new “technology showcase” bringing together digital disrupters at the cutting edge of artificial intelligence, virtual reality, machine learning and drones, to ensure you’re the first to know which technologies are set to further disrupt the industry.
For the full agenda, speakers and how to register see http://www.upstreamintel.com/data-north-sea/ or contact Connie Thorn (cthorn@upstreamintel.com +442073757535).
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