The Energy, Power and Natural Resources industry is simultaneously experiencing resurgent growth in traditional resources through new exploration and generation technology, while also facing the pressure and opportunity for renewable and smart energy in the future. While each sub-sector faces different issues, one thing is common - data is your friend and you can take advantage of it with the data virtualization for oil and gas benefits.
While growing energy demand is an opportunity, meeting that demand is getting more difficult due to several factors:
Companies worldwide are responding to the need with initiatives such as Intelligent Digital Oil Fields, Unified Well Master Data, and Predictive Analytics for demand, pricing, or risks such as pipeline failure, and Direct to Consumer Smart-Energy services. All of these initiatives require tremendously large amounts of data from complex and varied sources, brought together in new and different ways. Data virtualization for oil and gas has abilities not found in traditional data integration tools, it can turn raw data into actionable information rapidly and at low cost.
Today several global energy companies, power generators, energy traders, information services companies, and government and regulatory agencies are using data virtualization for oil and gas for projects such as:
A major oil field services company created a virtualized repository of canonical well data views across dozens of sources without moving the data but providing real-time, on-demand access to integrated well data.
A leading energy information services company used data virtualization to create a unified logical data layer across all information assets (well, lease, production, reservoir, regulatory, etc.) in the company across multiple geographies. Normalized data services were used as sources for new analytical, decision support, and operational applications.
A North American pipeline and energy logistics provider uses data virtualization to deliver Agile BI on pipeline volumetrics, environmental health and safety using reusable data views for internal operations, customers, and regulators while minimizing replication by 80%. Data virtualization allows reuse of some of this data combined with other maintenance, weather and supplier data to feed predictive analytics on pipeline failures and direct action.
A 100-year old diversified power generation and wholesale distribution company uses data virtualization for a similar network operational reporting solution. In addition it has provided linked data services views across critical generation and distribution systems along the value chain to enable rapid diagnostics and response to outages and disruptions.
A national oil company used data virtualization to create a logical data warehouse combining relational and unstructured Big Data with multiple interfaces for reporting tools, analytics, and data services access. This delivers real-time decision support for field operations combining production and well data against the backdrop of historical analytics.