Data science may be the future of the oil and gas industry
2023/6/8
"Data science will dramatically improve the ability of oil and gas operations to improve efficiency, reduce costs, enhance safety and empower employees on IT teams and field teams," Wang told Drilling USA.
In the interview, Wang emphasized that data science includes many data tools, including machine learning, which he noted will be an important part of the future of oil and gas. When asked if he thought more and more oil companies would adopt data science and machine learning, Wang responded positively to both questions.
When asked about some of the shortcomings of data science in the oil and gas industry, Wang told the Drilling USA reporter that data science needs to shift to a data-driven culture and the need to understand how to apply the right data science to the right problems.
When the American Drilling Site reporter asked if the demand for data science professionals in the oil and gas industry is currently high, Wang said, "We're seeing an increase in demand."
When a Drilling USA reporter asked the same question of Gladney B. Darroh, founder and president of Houston-based Piper-Morgan Search, Darroh told the reporter, "Interest in the field is increasing."
Darroh added, "I expect that interest to translate into an increasing demand for data science professionals, whether they are hired directly or on contract."
"At this point, I haven't seen a surge in demand, but I've been getting more and more inquiries from companies. It's definitely a wave that's building." Darroh continued.
Dave Munter, president of Louisiana-based OneSource Professional Data Search, said the demand for professional data scientists, at least from the company's client base of oil and gas operating companies, "has slowed down over the last two to three years.
Munter said, "At least from what we've seen, the peak in demand was before the oil price crash and the epidemic outbreak."
He added, "Demand seems to be coming primarily from onshore unconventional shale companies that are in high-growth mode with hundreds of wells and they have a lot of data points to sample and count, as opposed to geological analysis companies, production operations companies and mineral extraction companies."
"We're not sure if the decline in demand for dedicated data scientists is across the energy supply chain or just in the areas we serve." Munter continued.
Munter continued, "We are seeing a growing demand for employees who can integrate high-end statistics and data analytics in traditional positions, such as production analysts, production engineers and reservoir engineers."
Andy Wang recently attended the Society of Petroleum Engineers (SPE) International Gulf Coast Region Data Science Conference in Houston, Texas, which was also attended by the editor-in-chief of the Drilling USA website. The conference, billed as the annual flagship event of the SPE-GCS Data Analysis Study Group, was attended by representatives from the energy and technology sectors.
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