Real time data integration architecture for hydrocarbon exploration and production data consolidation

Abstract

The exploration and production sector of hydrocarbon is not only highly competitive but also requires an enormous amount of investment. The world market today is facing shortage of oil and gas supplies leading to constant increase of prices, thus the requirement for further new discoveries as well as prompt decision making has become more important than ever. Most of the old oil fields are depleting and the new reserves are in difficult and sometimes almost in inaccessible location for easy exploration and production. Improper or untimely decision can lead to huge financial losses and may cause irreparable damage to the formation. For maintaining a competitive edge in this ruthless market, accurate and efficient information and knowledge is required in real time or in near real-time environment. For extraction from existing reservoirs high speed and intelligent simulation solution becomes a critical factor. Under this highly complicated scenario Exploration and Production (E&P) companies requires to utilize and implement information technologies to streamline their processes as well as for efficient, accurate timely decision making.