Opinion

Big Data Revolution Boosts Offshore Production


An award-winning new service which harnesses data to predict downtime and the performance of oil and gas production systems has been touted as a positive example of innovation in the sector.

By applying predictive data analysis methods already deployed in alternative industries, including aviation, predictive technology specialists Operational Excellence (OPEX) Group has worked with companies in the oil and gas sector to reduce costly critical system failures.

The data-driven approach takes information from a range of sources to understand what a “perfect day's operation” looks like.  This digital model can then be used to identify threats and emerging issues across an entire system in advance, enabling decisions and interventions to maximise production uptime.

A case study regarding OPEX's predictive analysis service is highlighted on the Efficiency Hub, industry's online gateway to initiatives that aim to improve efficiency across the UK Continental Shelf. The Hub is the flagship tool of Oil & Gas UK's Efficiency Task Force, and is led by industry for industry.

ETF Chairman Phil Simons, VP North Sea & Canada for Subsea 7, said:

“The UKCS is at the forefront of a digital transformation which is unlocking the power of data.

“The offshore oil and gas industry has a wealth of information at its disposal. Harnessing new methods and technologies to mine that information, and openly sharing the results, is good news for everyone in the sector.

“This is a perfect example of innovation in industry which promotes smarter and more effective ways of working.”

OPEX VP of Operations, Chris Ayres, said:

“Oil and gas operators have a significant opportunity to secure additional production revenue by unlocking the immense value in their operational data.

“By bridging the gap between data science and oil and gas operations, our Predictive Analysis Service, known as X-PAS™, opens up a whole new approach to operating and maintaining critical systems.   

“Each of our customers is different, but our experience has shown a typical 2-5% improvement in production and a 50% reduction in critical system outages.  With the right level of adoption, services like X-PAS™ and other digital solutions could have a substantial impact on the basin as a whole.”


Visit source site

https://oilandgasuk.co.uk/index/

UKCSUnited KingdomOffshoreProduction

More items from oilvoice


2018 - Our Oil and Gas Predictions

Ashurst:We set out below our top predictions for the global oil and gas industry 2018. 1. Oil price stability With the oil price pushing through to the US$70 mark, and further confidence that the price will remain more stable this year, we will see international oil companies (IOCs) looking to "r ...

OilVoice Press - OilVoice


Posted 8 minutes agoOpinion > Ashursto&g2018 +7

Prospex Oil & Gas: Significant Commercial Gas Discovery Onshore Italy

Prospex Oil and Gas Plc, the AIM quoted investment company, is pleased to announce that it has been advised by the operator Po Valley Energy Limited (‘PVE') that strong flow rates from testing operations have confirmed a significant commercial gas discovery at the Podere Maiar-1d appraisal/redevelo ...

OilVoice Press - OilVoice


Posted 3 hours agoPress > ItalyonshoreAIM +5

Genel Energy: Bina Bawi and Miran West Gas Resource Update

Genel Energy ('Genel' or 'the Company') is pleased to announce that RPS Energy Consultants Ltd. ('RPS'), as part of its work on the updated competent person's reports ('CPRs') for the Bina Bawi and Miran West fields (Genel 100% and operator), has finalised its evaluation of the contingent gas resou ...

OilVoice Press - OilVoice


Posted 6 hours agoPress > RPS Energy ConsultantsGenel EnergyResource Update +3

Significant Italian Gas Discovery Confirmed for Po Valley

Strong gas flows on test have confirmed a significant commercial discovery for Australia's Po Valley Energy Limited (“PVE” or the “Company”) at its new Selva gas field in northern Italy. The Company announced today the strong gas flows had resulted from successful flow testing of the recently dril ...

OilVoice Press - OilVoice


Posted 6 hours agoPress > ItalygasDiscovery +3

EIA Expects Total U.S. Fossil Fuel Production to Reach Record Levels in 2018 and 2019

Source: U.S. Energy Information Administration, Monthly Energy Review and Short-Term Energy Outlook In its January 2018 Short-Term Energy Outlook (STEO), EIA forecasts that total fossil fuels production in the United States will average almost 73 quadrillion British thermal units ( ...

OilVoice Press - OilVoice


Posted 23 hours agoOpinion > EIAEnergy Information Administration EIAFossil Fuels +6
All posts from oilvoice