Utilization of Big Data analytics, in the upstream and downstream oil and gas industry. Big Data or Big Data analytics refers to a new technology which can be employed to handle large datasets which include six main characteristics of volume, variety, velocity, veracity, value, and complexity. With the recent advent of data recording sensors applicable for oil and gas industry has become a massive data intensive industry. Analyzing field sensors data or processed data, improving Inventory management, operational efficiency and performing simulation, reducing process down time and increasing operational safety, optimization of the performance of production pumps, improved petrochemical asset management, improved transportation, and improved occupational safety are among some of the applications of Big Data in oil and gas pipeline industry. Although the Pipeline industry has become more interested in utilizing Big Data analytics recently, but, there are still challenges mainly due to lack of business support and awareness about the Big Data within the industry. Furthermore, quality of the data and understanding the complexity of the problem are also among the challenging parameters facing the application of Big Data.
The new technological improvements have resulted in regular generation of massive datasets in Oil and gas pipeline & Storage industries. It has been reported that managing these datasets is a major concern among oil and gas companies. One of the experiences is that petroleum engineers spend over half of their time in searching and assembling data. Big Data refers to the new technologies in handling and processing these massive datasets. These datasets are recorded in different varieties and generated in large volume in various operations of upstream and downstream oil and gas industry. Moreover, in most cases, if processed efficiently, they can reveal important underlying governing equations behind sophisticated engineering problems. The main reason behind this popularity is the need for improving the oil and gas production & operational efficiency. Interest in Big Data has changed from 2012 to 2018 among the oil and gas industry executives.
We are here to presents an extensive review on the recent development about the application of Big Data analytics in both upstream and downstream oil and gas industry. In the first part, Big Data is defined and the processing tools are introduced. In the second part, the utilization of Big Data in oil and gas industry is presented. For the last part, the major challenges facing the Big Data analytics in oil and gas industry are addressed.