October 2021

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Digital: Hybrid modeling: Unlocking the value of data for oil industry assets

We live in a world increasingly driven by data scenarios for advanced analytics, predictive modeling and machine learning (ML), but how reliable is this for large oil and gas assets where safety and reliability are of paramount importance?

Eide, E., Kongsberg Digital

We live in a world increasingly driven by data scenarios for advanced analytics, predictive modeling and machine learning (ML), but how reliable is this for large oil and gas assets where safety and reliability are of paramount importance? Can the industry rely purely on machines to anticipate its needs, or does it need to stay with the more traditional physical modeling to determine safety, lifetime and maintenance of assets? The author believes the answer lies in a combination of the two.  There is no denying the value of data. Historically, there was not enough data to support ML algorithms, which improve with greater volumes of historical data.   However, the falling cost and size of e

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