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Smart Fields Summit: Data Management is the Biggest Challenge on the Path to the Digital Oilfield

The Energy Exchange commissioned a survey analysing the current challenges and opportunities in the smart fields industry. Companies that completed the survey included: Chevron, Saudi Aramco, Statoil, Adma Opco - BP, Energistics, Shell, Qatargas, SAS, Petoro AS, Trimble, Wipro, POSC Caesar Ass and Apache.

What is the biggest challenge relating to data management?

Data management was admitted to be a challenge by 90% of respondents. As for the aspects of data management, almost all of the survey participants know how to enhance the accuracy of data management. However, they would like to learn more about how to collect data for internal decision making and external evaluation (25%), how to establish a uniform method of data valuation (23%), how to create a data environment in which the full potential of big data can be harnessed (21%) and how to implement the concept of data “as an asset” (20%).

How important are technologies, people and process in implementing integrated operations?

44% of respondents stated that people that are able to adapt to new technology and fulfil changed roles are of the highest importance for the industry. A similar degree of importance (29% and 27% respectively) was assigned to two other factors: a process which allows changes associated with the transition to be managed from traditional operations for integrated operations and technology that allows managing increased volumes of data.

These outcomes were supported by responses when asked to state 2-3 main challenges their company is facing in implementing / developing current smart fields. Two thirds of the survey participants admitted that they would like to gain the support of their top management in smart fields’ projects. Other respondents mentioned the challenges which were technology- and data-related.

The detailed survey report can be downloaded here and the results of the survey will be addressed in more detail at our Smart Fields World Summit in Houston on 27-28 January 2014. More details about the summit can be found at our website www.smartfieldssummit.com

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