Petro-Technical Data Integration: Key Ingredient for Successful Operations
Keywords: Digital Oilfield, Petro-Technical Data Integration (PTDI), Data Virtualization, Optimization, Petro-Analytics, Non-Productive Time (NPT).
Upstream oil & gas companies have been making critical investments in automation and information technology to develop best-in-class operational components within the upstream value chain. ARC Advisory Group believes that the timing is right for these investments, since – as everyone in the industry well knows – the days of "easy oil" are long past and "unconventional" fossil fuel production will soon become the new normal.
Key investments made include 2D/3D seismic surveying and imaging software and services, reservoir management software, drilling and completion solutions, production optimization solutions, and financial and accounting solutions; each intended to help maximize production, enhance recovery rates, or in some other manner improve profitability for the respective operational group.
Although these investments have resulted in incremental improvements on overall operational efficiency across most upstream projects, petro-technical data integration (PTDI) is emerging as the "killer app" for improving overall operational efficiencies and maximizing production. PTDI solutions integrate different operational aspects of the upstream value chain, such as integrating reservoir data with production data, or micro-seismic imaging data with drilling and/or hydraulic fracturing data.
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