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IDC PlanScape: Oilfield Optimization — Well Life-Cycle Management Digital Framework

IDC PlanScape: Oilfield Optimization — Well Life-Cycle Management Digital Framework

This IDC PlanScape report uses the IDC PlanScape methodology to explore the topic of WLM framework. The intent of the methodology is to provide clients with a WLM framework for creating a business plan by answering four essential questions — why, what, who, and how.

"WLM framework can deliver financial benefits that are tangible and auditable," says Chris Niven, research analyst, IDC Energy Insights. "More importantly, oil and gas producers now realize the pressing need to efficiently manage the development and production of wells in each oilfield environment usually consisting of multiple disparate systems into a tightly integrated, agile, digital WLM framework capable of rapidly adopting innovative, high-impact technologies like Big Data and analytics, cloud, real-time drilling and production, communications, and collaboration."

Please Note: Extended description available upon request.

IDC Energy Insights Opinion
In This Study
Situation Overview
Why? Well Development and Production Must Be Efficient and Lower Cost
Streamlining Processes and Gathering Data from Drilling
Streamlining Processes and Gathering Data from Production
Refine Processes and Information Flows for Automation and Analytics
Foundation for New Initiatives and Enabling Technologies
What? Building the WLM Framework
Who? IT and Especially Architects Must Collaborate with All Business Units
How? WLM Framework Development Can Be Done in Parallel
The Approach
Future Outlook
Essential Guidance
Actions to Consider
Learn More
Related Research
Table: Potential Areas for Analytics
Table: Business Drivers for an Oilfield Optimization Framework
Table: Potential Areas for Analytics and KPIs
Table: Example of Key Data for Collaboration and Analytics
Table: Key Team Members and Their Responsibilities
Figure: IDC PlanScape Oilfield Optimization — WLM Digital Framework
Figure: Well Life-Cycle Management Alignment

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