The oil and gas industry is facing an invasion of data analytics startups who saw a wide-open gap in the market a few years ago when talk of big data first began.
Many of these young companies vying for attention from producers are focused on alleviating the headaches associated with artificial lift systems. There are also a number of software products designed to handle difficult computations such as production forecasting and reserve estimation.
Some are selling analytics as a way to combat the growing threat of cyber attacks. Other programs interpret human semantics to extract valuable information out of the entirety of a company’s document library.
Below is a closer look at what several of these analytics startups are offering to the industry—only there will be no deep dive into the layer cake of terminology that dominates this emerging software arena, e.g., artificial intelligence, machine learning, edge computing, etc.
A sign of the industry’s accelerating uptake of analytics came in May when a number of the world’s largest producers made a USD-26 million investment in an industrial-focused analytics startup from Silicon Valley called Maana. The list of financiers includes the venture arms of Saudi Aramco, Chevron, Shell, and GE.
This may be a leading indicator of things to come because rather than focusing on any particular niche solution, Maana is a big-picture analytics platform. Able to reach between different silos within an organization, the program analyzes seemingly disparate sets of operational data and ties them all together.
Analytics Firms Explore Oil and Gas Market
Trent Jacobs, JPT Senior Technology Writer
03 September 2016