The Energy Consulting Group
Business strategy for upstream oil and gas producers and service companies
Our focus is to develop and
implement strategies that are practical, sustainable and allow
organizations to achieve their full potential. Our consultants have
long histories of working closely with senior executive teams of
firms of all sizes to help their companies not only be successful,
but achieve performance that stands out relative to
peers.
.
Contact Bill at insight@energy-cg.com to
find out how we can help you.
The Energy Consulting Group specializes
in
- evaluating the value and
design of the Intelligent Oil Field
- quantifying volumes and
risks associated with oil and gas supply
fundamentals
- strategy insight for the
E&P service sector
.
Click here for more information about the
Intelligent Oil Field (also called Digital Oil Field, Smart Field,
i-Field).
Specific Digital Oil Field articles/examples of interest include
Intelligent Oil Field
Financial Times article
Offshore Engineer article
Associated Press article
Examples
Shale Oil/Shale Gas Digital Oil Field Application: Real Time Microseismic Hawkinson Technical Demonstration Project, Continental Resources
Shell Brunei
Specific Digital Oil Field articles/examples of interest include
Intelligent Oil Field
Financial Times article
Offshore Engineer article
Associated Press article
Examples
Shale Oil/Shale Gas Digital Oil Field Application: Real Time Microseismic Hawkinson Technical Demonstration Project, Continental Resources
Shell Brunei
ChevronTexaco's Digital Oil Field Aims to
Aid Reserves, Productivity
By ANGEL
GONZALEZ
DOW JONES NEWSWIRES
April 20, 2005
DOW JONES NEWSWIRES
April 20, 2005
HOUSTON
-- The digital oil field of the future has taken shape in
ChevronTexaco Corp.'s new headquarters in Houston since early
January -- and it looks like the set of a Cold War melodrama. In a
screen-filled war room, technicians monitor real-time data flowing
via fiber-optic cable and satellite links from sensors behind the
drill bit below a Gulf of Mexico platform. By looking at the
acoustic, temperature and pressure information, engineers can
almost hear and feel the pulse of the drill, and receive e-mail
alerts of any emergency on their BlackBerries if they are out of
the office.
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Developments like these could help add 125 billion barrels to
global reserves in the next 10 years, according to Cambridge Energy
Research Associates. CERA analysts predict digital oil fields could
improve reserve recovery by 6%, raise production rates by up to 10%
and cut operating costs by up to 25% through better reservoir
management and reduced on-site crews. The technology would be a
boon for oil companies being pressured to find and pump more oil
amid a shortage of qualified labor.
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The
technology industry also stands to gain. International Business
Machines Corp., which employs about 1,000 people in its
petroleum-industry practice, estimates the market opportunity for
digital oil field applications to be $1 billion between 2005 and
2010.
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"The
digital oil field has moved from being a fringe concept five years
ago to the point where it's becoming an accepted part of the
industry," said Bill
Severns, managing director of The Energy Consulting
Group and lead researcher for the CERA study. Challenges arise from
oil companies' cautiousness when it comes to technology spending
and potentially drastic changes in the workplace, but proponents
are hopeful.
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................Total Asset
Awareness.............................................................................................................................................................
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According to Mr. Severns , information technology can provide companies with "total asset awareness" -- real-time monitoring of reserves, production and transportation. Live data would flow from sensors at the drill into remote operation centers, and from there into the accounting department and Wall Street.
According to Mr. Severns , information technology can provide companies with "total asset awareness" -- real-time monitoring of reserves, production and transportation. Live data would flow from sensors at the drill into remote operation centers, and from there into the accounting department and Wall Street.
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.
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Write to
Angel Gonzalez at angel.gonzales@dowjones.com
Copyright (c) 2005 Dow
Jones & Company, Inc.
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