Global Practice of AI and Big Data in Oil and Gas Industry

Digital transformation in the field of oil and Gas industry is already a significant impact creator. It is actually act like catalyst through which the overall functionality of the oil and gas industry get enhanced and the overall output with the help of technologically-advanced mechanism, increased up to manifold. In the present scenario, the over-all quest is not just about the volume of the oil and petroleum, but it is also regarding the overall value generated throughout the process. And such enhanced level of value generation is taking place with great pace with the help of enhanced level of implementations of different types of technologies in different type of activities related to the oil and gas industry. In the present scenario, oil and gas industry’s business model is no longer depending upon just the inflated and narrow based value-chain mechanism. It is actually depending upon the almost all modernized and futuristic technologies. The modern technologies include big data analytics, 3D printing technology, cyber security, digital marketing, Artificial Intelligence, Internet of Things, drone technologies, database management system, etc. all these technologies are not only supports in handling the overall business capability of the oil and Gas Industries, but also eliminate the overall negative impact generating elements. With the help of technologies and digital transformation, the overall profitability of the oil and gas industry enhanced. Digital transformation is a prominent and significant impact creator which is not limited to the oil and gas industry, but also reaching up to the all-global level Businesses. It is transforming the overall business operations by enhancing the speed of innovation and making the use of practical knowledge base which ultimately enhance the overall power of operations and increase efficiencies. With the emergence of digital transformation technologies especially with the emergence of big data analytics, the Internet of Things and Artificial Intelligence have supports several types of innovative and new ways of developing and transforming the overall market as well as the customer satisfaction in significant manner. All such innovative technologies and digital transformations are contributing significantly in shaping the future of oil and gas industry

Download Full-text

Managing Uncertainty in Large-Scale Inversions for the Oil and Gas Industry with Big Data

Studies in Big Data - Guide to Big Data Applications ◽

10.1007/978-3-319-53817-4_7 ◽

2017 ◽

pp. 149-173

Author(s):

Jiefu Chen ◽

Yueqin Huang ◽

Tommy L. Binford ◽

Xuqing Wu

Keyword(s):

Big Data ◽

Large Scale ◽

Oil And Gas ◽

Oil And Gas Industry ◽

Gas Industry

Download Full-text

Value creation through big data application process management: the case of the oil and gas industry

Journal of Knowledge Management ◽

10.1108/jkm-02-2019-0084 ◽

2019 ◽

Vol 23 (8) ◽

pp. 1566-1585 ◽

Cited By ~ 4

Author(s):

Muhammad Saleem Sumbal ◽

Eric Tsui ◽

Irfan Irfan ◽

Muhammad Shujahat ◽

Elaine Mosconi ◽

...

Keyword(s):

Big Data ◽

Value Creation ◽

Oil And Gas ◽

Positive Impact ◽

Oil And Gas Industry ◽

Cyber Attacks ◽

Gas Industry ◽

Content Type ◽

Oil And Gas Companies

Purpose The purpose of this study is twofold: to investigate the role of big data in firms’ co-knowledge and value creation and to understand the underlying drivers behind value creation through big data in the oil and gas industry by underscoring the role of firms’ capabilities, trends and challenges. Design/methodology/approach Following an inductive approach, semi-structured interviews were conducted with senior managers and analysts working in oil and gas companies across eight countries. The data collected from these key informants were then analysed using the qualitative data analysis software ATLAS.ti. Findings Value creation through big data is an important factor for enhancing performance. It has a positive impact on both tangible (organisational performance) and intangible (societal) aspects depending on the context. Oil and gas companies understand the importance of big data to creating value in their operations. However, implementing and using big data has been problematic. In this study, a framework was developed to show that factors such as the shortage of data experts, poor data quality, the risk of cyber-attacks and unsupportive organisational cultures impede its implementation and utilisation. Research limitations/implications The findings from this study have implications for managers and executives implementing big data and creating value across various data-intensive industries. The research findings, are contextual, however, and should be applied cautiously. Originality/value This study contributes to the value creation literature in the big data context. The findings identify the key areas to be considered for the effective implementation and utilisation of big data in the oil and gas sector. This study addresses a broad but under-explored issue (i.e. knowledge creation from big data and its implementation) and strengthens the academic debate within this research stream.

Download Full-text