Emergence of Digital Oilfield Technology in Exploration & Production Industry

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By: Amit Modi -- Senior Research Analyst

30 June, 2014

Emergence of Digital Oilfield Technology in Exploration & Production Industry
WHITEPAPER

As the demand for oil is increasing every passing year, every nation is looking to maximize the crude oil production and at the same time develop more reserves to satisfy the increasing demand. The era of ?easy oil? is slowly approaching to an end and energy industry is looking at ways to maximize its productivity in current assets and minimizing risks while exploring deepwater and extreme climate oil fields. In recent times, the concept of digital oil field (DOF) is gaining a lot of traction due to the very same reason. Exploration and production operators are constantly struggling to maximize productivity from the wells, which directly impacts their profitability, as most of the operators are tapping cost and risk intensive deep-water wells. A worthwhile solution to the new challenges faced by E&P is deployment of Information Technology. The investment in modern information technologies for the future of their fields is becoming a worthwhile trade-off for much safer, higher productive, more cost efficient and better managed operations.




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