Challenges and Opportunities in the Oil & Gas Industry

07/24/2012

Rick Watkins -   Oil and Gas Strategic Account Manager – Altair

In this article, we will be looking at such trends as the impact of globalization and cloud-based services. How have oil and gas companies evolved and embraced new IT demands? What pressures are these companies feeling now and how will that impact the way they manage their IT infrastructure moving forward? These questions and their answers are driving Altair’s product development philosophy for all aspects of our business.

There is a common saying in the oil and gas industry that “the age of easy oil is over.”  Of course this refers to the need to recover today’s reserves in deeper and more remote locations than ever before.  To be economically viable, any potential project must undergo greater scrutiny, analysis and testing.  Coupled with the rapidly growing demand of the world’s existing and developing consumers, the risk of failure has maintained parity with reward for success, but each is measured in the billions of dollars.  Altair HyperWorks is enabling scientists and engineers to create better numerical models and simulations of the earth’s subsurface topology.  The success or failure of the recovery process in these complex formations is dependent on understanding how the structural and fluid mechanics of a rock formation will interact with the effects of the drilling, completion and production phases.

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Tags: Altair, cloud computing, Globalization, HPC, HyperWorks, Moore's Law, Numerican Simulation, Oil and Gas Industry, PBS Professional, topography, topology
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