The oil and gas industry is well accustomed to the fact that data is considered the new oil. There is no better place to find this than in the trove of data assets held by energy companies with the cloud based machine learning tools available in today’s modern cloud platforms.
This industry has a long history of storing massive volumes of data, such as seismic (pre-stack and post-stack), well data, reports, contracts, and other exploration and production datasets, in offsite storage facilities. Boxes contain valuable exploration and production data, which have significant potential to enable new reservoir discoveries and revenue streams. They are sitting idle instead of being used to form the corpus of machine learning (ML) and artificial intelligence (AI) systems. Understanding your data’s real worth requires a modern approach to oil and gas data management and a new way of thinking about seismic data migration over traditional storage methods.
Cloud-enabled technologies drive the industry, helping oil and gas companies access the value and utility of their data assets. However, most companies still have a vast majority of their data sitting in offsite vaults, inaccessible to modern tools. Consider the following with your oil and gas data management: