Unleashing industry 4.0 opportunities: Big data analytics in the midstream oil & gas sector

Unleashing industry 4.0 opportunities: Big data analytics in the midstream oil & gas sector

Gasoline

Decision making

Big data

Gas industry

Metadata

3D printers

Data Analytics

Industry 4.0

Augmented reality

Cloud analytics

Besides the rapid developments in the energy industry, there are substantial technological advances. The energy industry is calling for a strategic transformation of operation and business models through digital technologies and integrated data flows, a process known by "Digitalization". Digitalization, which is driving the fourth industrial revolution (Industry 4.0), is one of the main drivers that are re-shaping the global energy landscape. Among the main pillars of Industry 4.0 are, Industrial Internet of Things (IIoT), Cloud Computing, Augmented Reality, 3D printing, Mobility Solutions, and Big Data Analytics. Given these technology trends, assets and processes have become smart, data- driven and integrated. Data is the foundation of digitalization, and to get on the right digitalization path, data silos that are streaming at very high rates from diverse sensors and systems, shall be firstly sorted out. Big data analytics helps in creating a bridge between raw data and knowledge. It unlocks hidden patterns and associations within massive raw data sets, that reveal new opportunities for better outcomes. The future energy landscape is shifting towards a data-driven decision making business culture. A successful implementation of Big Data analytics within oil and gas midstream operations, reduces non-productive time, achieves efficiency gains, and maximizes profitability. The great advancements in data science, cloud platform and computing power, are unleashing the potential of Big Data analytics. This paper focuses on the influence of Big Data on the midstream oil and gas sector. The paper begins with an overview on Big Data and its potential within the oil and gas industry. Thereafter, it reviews different applications of Big Data analytics in midstream operations. Finally, the paper discusses the challenges posed by Big Data analytics implementation, and discusses the measures that shall be taken to guarantee its successful implementation within the midstream sector. Copyright 2020, International Petroleum Technology Conference.

Eissa, Haidy

International Petroleum Technology Conference 2020, IPTC 2020, January 13, 2020 - January 15, 2020

2020

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