Kx FOR OIL & GAS
By 2020, 25 billion assets will be connected - working smarter, faster and more efficiently than ever before. The oil and gas industry is beginning to experience the convergence of big data, analytics and intelligent systems. This movement towards convergence challenges the current silos of disparate technologies, from legacy SCADA and asset management, to historian and decision support systems. These challenges are paving the way for new, emerging solutions that drive data and predictive analytics into the edge, the data center, and the Cloud.
The industry is now realizing higher levels of performance and optimization that can result in outsized return on investment for oil and gas companies leveraging these new capabilities.
This shortfall represents US$200 billion in annual revenue."
BIG DATA IN OIL & GASAs digital disruption continues to permeate all industries, offshore operations are among those set to benefit, with predictive analytics and big data in Oil and Gas, to blockchain, machine learning and artificial intelligence.
The infrastructure within O&G generates vast amounts of data across a variety of types - sensor data from upstream, midstream, and downstream operations, geological and geophysical, drilling, weather, geolocation, text files, video and social media.
This data is subject to a number of technological developments via; speeding up data analysis offshore, saving time with automation & AI, enhancing safety through electronic monitoring, 3D Virtual modeling with drones, video surveillance technology, and analyzing data with blockchain.
IMPROVING PRODUCTION & OPERATIONSThe ever-increasing number of connected sensors in the oil and gas drilling and production process is creating enormous amounts of data for organizations to process, analyze and store with many manufacturing execution systems struggling to deal with the bottlenecks caused by this constant flow of data. Their restrictions reduce the potential to maximize the value of that data in areas like drilling optimization, real-time fault detection, well integrity and well completions, reservoir simulations, integrity management, avoiding ESP failures, root cause analysis, and predictive maintenance.
DELIVERING REAL-TIME ANALYTICS & INSIGHTSLarge sets of data are not new to the oil and gas industries. What is new is the scale, volume, and frequency of real-time data being generated by the widespread use of sensors across all aspects of the sector from seismic data to optimize production and field development, to production and processing performance data across control room crews, to drilling, GPS, and weather data. Leading companies are pushing ahead with the integration of real-time data from production, asset management, and engineering to create their digital oilfields.
Kx can capture, analyze and store data from thousands of sensors to compare with historical data in areas like fault detection and anomaly analysis. This technology integrates with legacy systems and multiple data sources, allowing you to either augment or replace existing systems and libraries.
PREDICTIVE MAINTENANCE FOR ASSET HEALTHOil and gas companies can leverage streaming and real-time IIoT data across their diverse set of assets, whether it’s a drilling rig, a compressor, a pipeline booster station, or any other mission-critical equipment to monitor asset health. Applying advanced analytics in this way delivers actionable insights that can streamline maintenance, improve efficiencies and drive competitive advantage.
Kx for Oil and Gas provides support for initiatives around robotic process automation (RPA), increasing efficiencies across production facilities and assets, simulated tests to produce in context rather than at all costs, decreasing the occurrence of dry wellheads and predictive maintenance to reduce downtime and also to ensure the physical integrity of pipeline transmission.
TRADING & RISK MANAGEMENTKx has a long history of providing pricing, risk management and regulatory compliance solutions to the financial markets that address the same challenges faced by Oil and Gas trading and treasury departments. Its industry-proven, multi-asset capabilities in order management, trade execution, transaction analytics, real-time trade surveillance, and alerts management provide clients with instant visibility into individual transactions, aggregated risk profiles and the integrity of their overall trading activity. In combination, they provide an enterprise-wide solution from pre-trade through post-trade activities that enable firms to comprehensively analyze and manage trading and risk profiles.
BEYOND THE DIGITAL OILFIELDTo combat the challenges with many SCADA systems, oil and gas companies have turned to commercially- available historian platforms because they offer better user experience and visualization capabilities. While historians have enabled a new level of data analysis for many companies, these systems do have several limitations.
In an era of enhanced connectivity, big data continues to disrupt the oil and gas sectors. Valuable real-time data that can be used to automate and transform the industry is being generated across multiple areas from assets and operations, to field production, to logistics and end customers, to pricing, compliance and trading risk management. Industry experts expect continued investment in analytics, IIoT and cloud-enabled capabilities over the next 5 years but it has also been reported that the oil and gas industry only uses a small portion of the data it collects, as low as 5-10%.
To truly achieve the Digital Oilfield with embedded analytics, the oil and gas industry must overcome limitations in today’s infrastructure and systems. Next-generation, real-time analytic platforms require new ways of thinking on how data processing, acquisition infrastructure, and analytics platforms are: designed, deployed, maintained, and used in a distributed and robust manner. This is where Kx comes into play.