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 U.K. Continental Shelf. The Hub is the flagship tool of Oil & Gas UK’s Efficiency Task Force. Oil & Gas UK is the leading representative organization for the U.K. offshore oil and gas industry.
“The UKCS is at the forefront of a digital transformation which is unlocking the power of data,” ETF chairman Phil Simons, vice-president North Sea & Canada for Subsea 7, said in a statement. “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.”
“Oil and gas operators have a significant opportunity to secure additional production revenue by unlocking the immense value in their operational data,” added Chris Ayres, OPEX vice-president of Operations. “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 two-five per cent improvement in production and a 50 per cent 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.”