LONDON – Oil & Gas UK has praised a new service that uses data to predict downtime and the performance of oil and gas production systems.
Predictive technology specialist Operational Excellence (OPEX) Group has worked with companies in the oil and gas industry to reduce costly critical system failures through applying predictive data analysis methods already deployed in alternative industries, including aviation.
The data-driven approach draws information from a variety of sources to analyze what a “perfect day’s operation” looks like.
The resultant digital model can then be used to identify threats and emerging issues across an entire system in advance, allowing decisions and interventions to be taken to maximize production uptime.
One case study has been highlighted regarding OPEX’s predictive analysis service on the Efficiency Hub, whichOil & Gas UK’s Efficiency Task Force (ETF) describes as its flagship tool.
ETF Chairman Phil Simons, VP North Sea & Canada for Subsea 7, said: “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.”
OPEX VP of Operations, Chris Ayres, added: “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.”