Importance of data in oil and gas value chain
In the tempest of demand shifts and price volatility, the oil and gas industry is rapidly undergoing restructuring. This is evident from mergers and acquisitions grabbing the headlines every now and then, backed by significant assets sales, as companies restructure their portfolios. Amid all these activities, there is another equally important set of acquisitions taking place - the merger and acquisition of data. Some of the questions that have surfaced in this regard include - What is an oil prospect, if not a concession coupled with the data that describes it? How can a newly acquired producing field be operated competitively without the data networks that gather its data and the historical database that describes its behavior?
In this white paper, we discuss how to evaluate a company’s data and manage its access, which is a crucial part of making an oil and gas acquisition successful.