National Oilwell Varco, Inc. has launched GoConnect condition monitoring services for intervention and stimulation equipment. The service provides real-time process monitoring, predictive analytics and condition-based maintenance capabilities for NOV’s pressure pumping, coiled tubing, nitrogen and wireline equipment.
The GoConnect system uses machine learning to provide data-driven insights into the condition, health and performance of customers’ equipment and operations, NOV said, allowing customers to reduce downtime-related costs, enhance equipment performance and improve operational efficiencies of completion services.
“Condition monitoring and predictive analytics are changing the way we support, maintain and design our equipment, allowing us to deliver better uptime and performance for our customers,” Clay Williams, chairman, president and CEO, said in a statement.
“Given that completions represents over two-thirds of the cost of a horizontal well in North America, expanding NOV’s condition monitoring offerings to support intervention and stimulation equipment operations was the next logical area to apply our industry-leading digital technologies and services,” he said.
Asset Link, the first commercial product of a multi-tier GoConnect service offering, enables real-time data monitoring and tracking, and is now available to customers after extensive field trials. The second tier of service, Asset Insight, which supports root cause analysis of component failures through advanced diagnostics tools and improves asset management with real-time alerts and customizable reports, will be available by the third quarter of this year.
Asset Optimization, the third tier of service, which incorporates proprietary algorithms developed by NOV’s technical equipment experts and data scientists to predict and prevent maintenance issues, will be available by the end of the year.
NOV’s GoConnect system for intervention and stimulation equipment is powered by NOV’s Max platform, which also powers NOV’s RigSentry condition monitoring system for drilling equipment. By unifying its digital solutions, products and services through the Max platform, NOV will be able to more effectively help the industry reduce costs while improving the performance and reliability of critical equipment, the company said.