Research on the Application of Big Data in Oil & Gas Industry

Abstract

Oil & Gas companies are complex, data-driven business with data volumes growing exponentially, however, restricted by traditional IT systems, staff ability and the data quality, the value of the data has not been fully used. With the development of big data technology, the capabilities of big data help oil & gas companies act on large volumes of data, transforming decision-making from reactive to proactive and optimizing all phases of exploration, development and production. In this paper we study the application of big data technology in oil & gas industry, and analysis the best practice of big data in some leading oil & gas companies, such as BP, Shell, and Statoil. Finally, based on our research and study, we provide the suggestion of big data blueprint and construction for oil & gas companies, which can help them to recognize the value of the unexploited data in supporting fact-based decision-making, and to track new business opportunities, reduce costs and reorganize operations.