Why TIBCO for Oil and Gas
As upstream oil and gas companies enter their second generation of the digital oilfield transformation, the industry is increasingly embracing new frameworks that deliver real-time intelligence and situational awareness to optimize exploration and production while keeping down costs and meeting regulatory mandates.
TIBCO offers a unique approach to address these challenges, providing real-time, event-based solutions that consume and analyze data at the speed of field operations, empowering decision-making and action in the moment that most matters.
TIBCO's Event-Enabled Platform Harnesses Oil and Gas Big Data
Whether revising drilling targets in response to identified subsurface hazards or optimizing production targets in response to fluctuations in pressures and temperatures, oil and gas producers are constantly adapting to real-time data and events. As the industry adopts more technologies to capture data from the environment, the volume, variety and velocity of data that oil and gas professionals will have to manage and interpret are set to rise exponentially.
TIBCO offers an event-driven platform connecting data, applications, people, and processes, ensuring that events and data from one application are available, reliable and actionable for other applications in real time. As all the data and events across your ecosystem are integrated, you get a unified view of your operations to enable you to optimize the entire value chain. Our in-memory event-processing and analytics technologies allow you to see through millions of correlated historical and real-time events, positioning you to anticipate problems and opportunities before they arise and proactively make decisions. By seamlessly integrating real-time event streams and predictive models, you can move beyond the limitations of historical data analysis and identify opportunities and risks in real time. Our solutions also enable you to take control of your information: You can interact with the data, see it in a variety of visualizations, query it and see results immediately in an immersive environment. As you engage in self-service discovery, you are empowered to make decisions without relying on IT professionals.
Using TIBCO technologies, geoscientists and engineers can strategically manage the well lifecycle using data integration and collaboration tools, data visualization and predictive analytics. Similarly, by releasing data from their functional silos, business managers can obtain an aggregated view of their operations and enhance their understanding of the opportunities and the interdependencies between assets to optimize resource allocation and capital investment decisions.
TIBCO Event-Enabled Solutions for Oil and Gas
Integrated and Optimized Operations to Maximize Productivity and Minimize Cost. Orchestrate the investments you have made in technologies, equipment, people and processes by enabling a fully interactive unified view of your operations. With a single source of truth for all prospecting and development activities, you obtain greater visibility to help you align your resources optimally and improve total performance. For example:
- Rationalize drilling priorities based on real-time information to ensure that your resources are working for optimal profitability.
- Dynamically coordinate your logistics and supply chain to avoid cost overruns and downtime. For instance, sync your pre-drill activities across procurement, compliance, rig scheduling according to changes in priorities and other dependencies.
- Apply predictive maintenance to minimize down time by defining maintenance events that signal the need to repair or replace parts based on closed-loop analytics and continuous correlation using real-time operations and historical data.
Well Lifecycle Optimization. TIBCO's data integration, decision support and collaboration solutions enable different functional teams to strategically manage the well lifecycle for maximum productivity. As you integrate past and real-time geophysical, geological, engineering and operational data, TIBCO solutions can help you optimize your responses to the constantly changing dynamics across exploration and production processes, including:
- Providing insight to support the assessment of high and low potential oil and gas targets in the exploration stage
- Identifying in real time the trends and outliers that can significantly reduce non-productive time, and uncover opportunities to optimize production.
- Leveraging data discovery and visualization to analyze and improve drilling performance
A primary building block of TIBCO's oil and gas solutions, TIBCO OpenSpirit® integrates data from multiple sources to help geoscientists determine the likelihood of finding oil, gas or condensates. By bringing together a single interface from which to access information residing in disparate data systems, these professionals can spend more time interpreting the information and less time searching for it. With a consolidated view of your historical and real-time geographic, well, and subsurface data, you can apply predictive, event-driven analytics to reduce the time and risks associated with drilling and development decisions.
Safety, Risk Management and Compliance. Oil and gas producers are operating in an environment made increasingly complex by evolving regulatory mandates. In particular, governments are tightening their regulations to improve safety performance and applying greater scrutiny on the environmental impact of oil and gas projects. Lapses in safety, health, environmental and corporate governance compliance can lead to penalties such as fines, and a battered corporate reputation that undermines public and shareholder trust. In this environment, diligent compliance management is a must across all your dispersed facilities.
Whether it involves a strategic license to operate, or an extension to a drilling permit, improved safety performance and incident reporting is the responsibility of all oil and gas employees. Using complementary TIBCO technologies, including collaboration and business process management tools, you can bring an approach to compliance that is integrated with your operations, embedding compliance and risk controls into your business and field processes. By modeling integrated workflows, you can monitor compliance events and risk exposure and take action to ensure compliance requirements are being met. Automated responses can be triggered based on real-time events and business rules; for instance, the changed status of a prospect can trigger reminders to obtain drilling permits. From performing timely checks on safety equipment to establishing rapid response mechanisms for accidents, TIBCO solutions provides you with visibility and accountability tracking across risk management and compliance processes to achieve compliance goals at a lower cost and improved response effectiveness.
Track Record in Oil and Gas
TIBCO has a proven and long standing track record in helping the world’s largest oil companies identify oil and gas targets, accelerate recovery, optimize production and reduce costs. Our solutions empower oil and gas professionals to make timely decisions and respond proactively to evolving dynamics. With decades of experience in the industry, we bring proven methodologies and best practices to ensure the deployment is tailored to your differentiated techniques and methods.
Hear Chevron explain why TIBCO Spotfire is the “nirvana of data analysis.”
Spotfire Extension for OpenSpirit