Proceedings of the Workshop on Data Mining for Oil and Gas

TL;DR

This paper discusses the potential and challenges of applying data mining, machine learning, and data analytics throughout the oil and gas industry lifecycle to improve efficiency and decision-making.

Contribution

It highlights the largely unexplored opportunities for data mining in the digital oil-field and emphasizes the need for knowledge sharing among data scientists in this domain.

Findings

Data mining supports various phases of oil and gas lifecycle.

Challenges include managing data growth and integrating intelligence tools.

The workshop fosters collaboration among researchers in this field.

Abstract

The process of exploring and exploiting Oil and Gas (O&G) generates a lot of data that can bring more efficiency to the industry. The opportunities for using data mining techniques in the "digital oil-field" remain largely unexplored or uncharted. With the high rate of data expansion, companies are scrambling to develop ways to develop near-real-time predictive analytics, data mining and machine learning capabilities, and are expanding their data storage infrastructure and resources. With these new goals, come the challenges of managing data growth, integrating intelligence tools, and analyzing the data to glean useful insights. Oil and Gas companies need data solutions to economically extract value from very large volumes of a wide variety of data generated from exploration, well drilling and production devices and sensors. Data mining for oil and gas industry throughout the lifecycle of the reservoir includes the following roles: locating hydrocarbons, managing geological data, drilling and formation evaluation, well construction, well completion, and optimizing production through the life of the oil field. For each of these phases during the lifecycle of oil field, data mining play a significant role. Based on which phase were talking about, knowledge creation through scientific models, data analytics and machine learning, a effective, productive, and on demand data insight is critical for decision making within the organization. The significant challenges posed by this complex and economically vital field justify a meeting of data scientists that are willing to share their experience and knowledge. Thus, the Worskhop on Data Mining for Oil and Gas (DM4OG) aims to provide a quality forum for researchers that work on the significant challenges arising from the synergy between data science, machine learning, and the modeling and optimization problems in the O&G industry.