Digital Transformation in Oil & Gas
Big Data and Digital Transformation will enable tremendous breakthroughs in the oil and gas industry. The industry’s technical complexity and financial risks underscore the need for the improved visibility, operational efficiencies, and risk mitigation that advanced analytics can provide. Big Data helps streamline key oil and gas manufacturing operations, while advances in artificial intelligence, sensors, and analytics provide incredible opportunities for efficiencies and innovation.
Sharing data is the cornerstone of digital transformation. Whether asset-specific or operational, data can be unstructured or poor quality. This requires significant effort to cleanse and aggregate data before it can be analyzed. Although sensors are ubiquitous and inexpensive, and bytes are cheaper than atoms, the actual data collection, aggregation, analysis storage and maintenance can be costly.
Organizations seeking to unlock the potential of big data and digital transformation require access to industry leaders and best practices for identifying, developing, and implementing these digital solutions. ASME has developed several opportunities to bridge the gap between data science, engineering and industry knowledge, and business needs to provide real value to the industry.
The Guideline will be available January 2021 in digital format
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Guideline on Big Data/Digital Transformation Workflows and Applications for the Oil and Gas Industry
To accelerate technology adoption and effectively address business challenges, a set of standards and/or recommended practices is needed. To unlock the potential of Big Data, the industry needs a standardized and efficient end-to-end workflow to validate the quality of the data, and subsequently, the accuracy of the results from the analysis.
ASME has developed a guideline document to define Big Data and its useful applications to upstream, midstream, and downstream businesses. This reference document provides a framework for understanding and a workflow for using data analytical techniques to solve business problems, serving as a roadmap of data-driven projects for both data and technical professionals. Success in implementing new digital technologies also requires a cross-functional expert team including domain specialists, IT experts, hardware and software vendors, data scientists, engineers, and geoscientists. System interoperability requires effective communication and a common language. The ASME guideline provides definitions of common terminology to bridge the vocabulary and cultural gap between data scientists and technical professionals, which is essential for common understanding and effective implementation.
Big Data Industry Summit - Oil & Gas
June 16-17, 2021
Big Data Industry Summit, powered by ASME, is an interactive forum connecting experts in big data with oil and gas professionals who need to utilize data to deliver critical value-added insights. Live technology demos and real-world case studies will reveal a pathway to driving value by scaling and adopting digital solutions. See and experience technologies and tools which will address the challenges of unstructured data, gathering enough of the right kind of data, poor data quality and information overload.
Learn how data, simulation and analytics can be leveraged to boost productivity, save money, and decrease risk in oil and gas. Link big data to decisions to ROI.
Walk away with concrete strategies and action plans for successfully designing and implementing big data projects which will:
- Improve planning and risk assessment
- Provide early warnings and best contingency options
- Detect root causes of inefficiencies
ASME in Oil & Gas
ASME is a globally-respected organization with 100,000 members. We are committed to helping the global engineering community develop solutions to real world challenges through technology advancement, standards, professional development, and industry knowledge sharing. The organization is an undisputed leader in the development of standards – which are essential for the advancement of big data tools and technologies – and provides access to knowledge and subject matter experts in Oil & Gas, Energy, and Offshore Technology. ASME’s Petroleum Division features strong industry representation and provides keen insight into oil and gas challenges and opportunities, serving as an essential resource for mechanical engineers and technical professionals in the oil and gas industry.
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