Analytics in Oil and Gas: The Big Deal About Big Data

Abstract

Abstract This report examines the potential for Big Data and analytics in the upstream and midstream sectors of the oil and gas industry. IDC Energy Insights provides insight on areas where Big Data and analytics has the potential to provide business value. This report covers newer technologies, such as Hadoop/MapReduce and streaming analytics, rather than the more traditional high-performance computing. The survey data is provided from oil and gas respondents based in the United States. Guidance is provided to CIOs, enterprise architects, IT strategists, and business executives on the potential of this new technology for the oil and gas industry. Just like other industries, the oil and gas industry is experiencing an increase in the number of sensing devices in the oil fields or pipelines. Of course, the industry has always been plagued with too much data and the inability to make productive use of that data. What has changed in the past few years is the availability of new technology based on commodity hardware – Big Data and analytics – pioneered by firms like Facebook and Google. This new technology can process high volumes of various types of data at relatively quicker speeds than conventional technology. Now, oil and gas CIOs are considering whether to invest in a Big Data and analytics infrastructure. This report reviews the current attitudes toward Big Data and analytics in the oil and gas industry and explores potential applications of the technology with an eye toward speeding time to first oil, reducing costs and increasing the safety of drilling, and enhancing production.