Barriers to Implementation of Real-Time Optimization Technology

Abstract

Abstract The SPE Real Time Optimization Technical Interest Group conducted a survey of its members earlier this year to learn more about the barriers to implementation of this technology. Understanding the barriers better will allow us to focus on the more important issues. The survey was in two parts. The first asked about the overall process of getting from data to decisions and action. The second focused on the usage of technical and business tools. This paper summarizes the results of the survey. We found that each step in the process has considerable major and minor barriers to overcome. The most difficult steps were in the areas of business analysis, recommendations / decisions and taking action. These are areas where management can have the greatest impact through improved work processes, governance and procedures. The results also show there is considerable need for improved commercial technical and business analysis tools

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