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Predictive Analytics in Oil and Gas
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Predictive Analytics in Oil and Gas

Predictive Analytics in Oil and Gas
3.93 (78.67%) 15 ratings

The Oil & Gas sector employees large number of Analysts. They are the early movers in the Analytics segment. These business work in the process of exploration, extraction, refining, transporting of oil and gas by oil tankers and pipelines, and marketing of petroleum products. Analytics is used in predictive maintenance, forecasting, analysis, energy trading, buy/sell, trade off, risk management and optimization. The Oil & Gas industry is divided in to divisions which are the upstream, downstream and midstream. Predictive Analytics is used in optimizations for upstream, downstream and midstream business process.

Predictive Modeling in Oil and Gas Industry

Predictive Modeling in Oil and Gas Industry

1.Upstream:

The upstream process are the exploration, development and production of crude oil or natural gas. Most upstream work in the oil field or on an oil well which is onshore or offshore, oil sands or oil shale. Some of these work in oil field are contracted out to drilling contractors and oil field service companies.

  • Asset Maintenance / Availability :
  • Optimization in exploration, development and drilling:
  • Production optimization :
  • Risk assessment and modeling:

2.Midstream

Midstream is the pipeline, marine and service and supply portion of the oil and gas industry. The products are transported to processing facilities, and from there to end users, by pipeline, tanker, barge, truck, and or by rail. There are also storage facilities at terminals throughout the oil and gas distribution system. Petroleum products are held in storage tanks, natural gas tends to be stored in underground facilities.

  • Transportation Optimization:
  • Pipeline Risk assessment:
  • Storage optimization:
Predictive Analytics in Oil and Gas

Predictive Analytics in Oil and Gas

3.Downstream

Downstream refers to the refining of petroleum crude oil and the processing and purifying of raw natural gas. It also includes the marketing and distribution of products derived from crude oil and natural gas from refiners to oil tankers, to retailers and consumers.

  • Refinery demand optimization:
  • Supply/trade, buy sell, contracts optimization:
  • Price optimization:
  • Competitor price analysis:

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