Big Data Analytics has long existed in the energy industry
Rock physicists, geophysicists, geologists, production engineers and reservoir engineers plow through terabytes of data on a daily basis to decide where to drill the exploration well in a wildcat area, which block to drill the next production well, predict how much and how many years the reservoir is going to produce; all essential data for managers and executives to determine NPVs and ROI and making the business decisions to buy, sell or hold on to assets.
THE CHALLENGE OUR INDUSTRY FACES
Currently, most of geosciences information are analyzed singly, or field-by-field. Regional or global studies are done but rarely, and is very time consuming.
We are working in Iraya to apply machine learning in the domain of image classification and natural language processing to help geoscientists analyse data faster, better, more accurately.