Unfortunately, the $30 billion/year loss is not explained and no citation is given:
Pivotal to improving recovery will be making better decisions throughout field life. Such decisions can only be based on having accurate and current information, from both wells and facilities. However, today’s experience with such data is a barrier. If gathered at all, data are usually incomplete and often remains unverified and, therefore, unused.
Experts estimate that, as an industry, we waste roughly 25%—or approximately US$30 billion—of our annual upstream expenditures.
Providing timely access to integrated, reliable, verified data, information and knowledge is crucial to the effective decision-making that will ensure optimal exploitation of an asset.
Our poor experience with using large volumes of data in our industry is slowing the uptake of new technology that can offer significant benefits. The barriers grow when we confront changing our established work processes aso that we can move to the necessary level of interdisciplinary integration.
Experts estimate that, as an industry, we waste roughly 25%—or approximately US$30 billion—of our annual upstream expenditures.
One possible attack for a citation is, besides the obvious searches for those two figures or looking for related government reports/statistics, is looking for a McKinsey report on that industry written before then; they’re widely read but not always cited, and they have industry-wide views because of their prestige and numerous clients.
Another would be stock broker research, especially from one of the top research banks (Morgan Stanley, Merryl Lynch), though this’d probably be harder to get access to.
Here.
Unfortunately, the $30 billion/year loss is not explained and no citation is given:
One possible attack for a citation is, besides the obvious searches for those two figures or looking for related government reports/statistics, is looking for a McKinsey report on that industry written before then; they’re widely read but not always cited, and they have industry-wide views because of their prestige and numerous clients.
Another would be stock broker research, especially from one of the top research banks (Morgan Stanley, Merryl Lynch), though this’d probably be harder to get access to.