| | JUNE 20188CIOReviewDRILLINGFOR VALUE INTHE DIGITAL OILFIELDThe oil and gas industry is deep into a transformative period of digitization. At Deloitte, we're charting dramatic changes across the industry, generated by more accessible and applicable data, insights and technologies including analytics that better track and upgrade field operations, manage inventory, expedite supply delivery, improve worker safety and optimize, fix or replace assets.Logistical management based on data analytics is no longer just a matter of future speculation. "Self-aware" systems now lead to real-time monitoring of conditions and provide predictions for immediate responses--people, equipment, repairs, and technology--to problems or challenges around a particular well, pipeline or other field asset.Consider an operations manager stationed at a control center who receives notice of a broken telemetry at one well; then a second showing reduced production levels at a different well. The third well with a holding tank quickly reveals it is nearing capacity. Based on the work-prioritization dashboard, the system automatically dispatches a technician to each trouble spot. That leads to improved routes, identified parts, and repair needs based to be on problem priorities.At the same time, algorithms immediately kick in to order new parts or equipment, identify and schedule maintenance workers, and schedule downtime (if needed). Worker safety is tracked, and the need for manual intervention is minimized in dangerous or cost-inefficient settings.Predictive Analysis and the Art of Preventative MaintenanceBeing able to clearly see every operational aspect in the next hour, or the next day, week or month using predictive analytics, gives the smart oil and gas executive an advantage. Oilfield managers and technicians increasingly are leveraging Internet of Things (IoT) sensors to connect in the cloud, and incorporating machine learning and cognitive modeling capabilities in a more targeted way.These systems understand and can predict equipment or down hole disruptions based on sensor-driven data. They understand which material shipments are on time, lagging behind or ahead of schedule, as well as weather conditions or other events that could impact delivery or productivity. The ability to monitor and optimize all assets globally, 24/7, is critical.When it comes to good production, predictive analysis is vital to preventative maintenance. Say a large U.S.-based energy exploration IN MY OPINIONBy Greg Mitchell, MD, Deloitte
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