Steam to Oil Ratio Optimization using Analytics & Machine Learning
Watch the exclusive webinar on Steam to Oil Ratio Optimization using Analytics & Machine Learning. During this session we deliver deeper insights into IBM’s approach to improving the Steam to Oil Ratio (SOR) of heavy oil production using physics inspired models and machine learning. IBM will show how they are helping businesses optimize production while reducing costs and increasing energy efficiency.
Steam Assisted Gravity Drainage (SAGD) technology has unlocked vast reserves of previously unrecoverable heavy oil. The cost to produce a barrel of oil using SAGD technology is still one of the highest in the world. In a $50/barrel market, heavy oil is almost uneconomic to produce.
This solution uses Steam Assisted Gravity Drainage or 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.
For a 60,000 barrel per day operation, an increase of 1% in production is worth at least $6 million per year in revenue.
Steam to Oil Ratio Optimization using Analytics & Machine Learning is built on proven technology, implemented by IBM Clients across industries, and supported by IBM’s math department – the largest in the world.
Michael Birnie, Managing Consultant - Business Analytics and Strategy, IBM Canada
Michael's passion about problem solving and creating positive change from insightful analysis lead him to pursue a master degree in Economics from the University of Calgary. He brings over 4 years of experience in business analytics, optimization, economic modeling, financial forecasting and risk management to the program.
Shay Code, Partner - Canadian Energy Industry, Global Business Services, IBM Canada
Shay Code is a Partner in IBM’s Global Business Services group and leads the Canadian Natural Resources team, focused on the Canadian energy and mining industry. Mr. Code is focused on assisting energy and mining clients in transforming their organizations through the application of technology to deliver superior shareholder value. His prior roles include the Vice President & General Manager for a $150M division of a Fortune 500 IT services and technology company based in Western Canada. Additionally, he ran a national consulting practice focused on business process improvement & automation through the use of information management & workflow solutions. Mr. Code has a Bachelor of Commerce degree and is a certified Lean Six Sigma practitioner.
Donovan Volk, Vice President, Sale and Marketing, JWN
Donovan joined JWN in January of 2015. His depth of experience and skills allow him to drive the integrated selling systems that continue to add value for clients. He has over 20 years of experience in strategic planning, solution development and service delivery through his roles at VistaVu Solutions, CGI and Telus. Donovan has a B.Comm in finance and marketing from the University of Saskatchewan.
Watch the IBM - Steam to Oil Ratio Optimization using Analytics & Machine Learning video now.