The yellow brick road to Real-Time Asset Management
Irrespective of the industry, leading businesses are those that can differentiate their core business processes and optimize to decrease cycle time and increase accuracy between key decision points in end-to-end processes.
The oil and gas industry is no different. We may not talk about the ‘Real-time Enterprise’ as Gartner would dub it, or Real-time Asset Management, but most IOC’s and NOC’s have visions for how they wish to decrease operations costs, increase production and manage risk and uncertainty.
Adopting a more ‘real-time’ approach will take rapid advances in technologies that empower companies to achieve a step change in productivity and ultimately enable a consolidated view of asset economics, uncertainties and risks for complete portfolio management.
It will also involve adopting more agile, standard technical computing environments that help us in our adoption of integrated work processes.
The collection of field operations data in real time is not new, but the delivery of this data to a living reservoir model to ultimately compress the decision making cycle for prospect generation, field development planning, well design and drilling and production operations is new, and will be at the heart of this digital revolution.
In this session we’ll talk about Landmark’s Real Time asset Management Center, the first of its kind, opened in Houston and the technologies portrayed in there. We’ll look at how some companies are beginning to implement various components of Landmark’s real time offerings within their operations today.