Decision making is indeed a challenge for the industry, in particular in exploration (read more about this on Geobuzz “When it pays to be intuitive versus systematic” by Alexei Milkov, Colorado School of Mines”).
The U.K. based company K2V Limited focuses on the issues around knowledge in the oil & gas industry, aiming at “improving decision making by collapsing cognitive bias and eradicating perceptual blindness”. For this purpose, they developed a neat map where they aim to display the locations where accredited oil & gas sector consultants do have special knowledge about.
The concept of crowdsourcing is not new to the oil & gas industry. Statoil and GE for example make a serious and continuous attempt to harvest the creativity from smart minds outside their companies’ boundaries to tackle tricky challenges. And we all know and enjoy Geonova’s WellBet – another example of crowdsourcing.
Companies like Draupner Energy are pioneering this new way of thinking and working for the exploration game on a whole new level.
Follow the Geobuzz link to read the full story about the knowledge map.