SAGD technology changed the game in the oilsands and unlocked massive resources that were previously inaccessible. But in a sub-$50/bbl oil market, the high-cost technology is almost uneconomic.
When it comes to reducing costs, every little bit helps.
According to IBM, for a 60,000-bbl/d operation, a one percent increase in production is worth at least $6 million per year in revenue.
IBM says its tools can help producers reduce their steam-to-oil ratios and realize significant savings.
The solution uses SAGD operational data, historical production performance and technical specifications to generate a set of insights. This includes predictive models for a week ahead to optimize the steam injection for a well, IBM says.
Join IBM’s Martin Belanger and Michael Birnie for an exclusive webinar on September 15, 2016 where senior representatives will outline the opportunities presented by machine learning and analytics for SAGD optimization.