Predictive service claimed to reduce offshore production losses
Downtime caused by critical system failures continues to cost operators on the UK continental shelf more than $1billion/yr in lost production, according to predictive technology specialist OPEX Group.
ABERDEEN, UK – Downtime caused by critical system failures continues to cost operators on the UK continental shelf more than $1billion/yr in lost production, according to predictive technology specialist OPEX Group.
One solution, it claims, is to make better use of the large volumes of sensor data collected from topsides production systems.
The company’s data-drivenX-PAS service uses existing infrastructure and data sources to help operators cut their lifting costs and production losses. OPEX claims its service is reducing system outages by 65%.
X-PAS service combined predictive technologies widely used by other industries with data science and oil and gas domain knowledge to help operators understand how their production critical systems are behaving; and to identify potential threats and vulnerabilities, but also opportunities to increase performance.
It applies data science to define and understand the many thousands of relationships within a critical system to give the earliest possible warning of potential issues or failures.
According to Chris Ayres, the company’s vp of Operations: “By transforming vast amounts of operational data into a focused number of business-critical insights, our customers can take the right preventative actions at the right time to avoid production loss, costly equipment damage or process safety issues.
“Less downtime means our customers can maximize production and the efficiency of their assets. In the last 12 months we have helped one customer avoid 21 system trips which would have resulted in an estimated production loss of $26 million.
“For another operator we have reduced system trips by 65% and helped them to avoid 18 instances of high-cost equipment damage and reactive maintenance. Importantly the service can be up and running within a month with almost no resource burden.”
This year OPEX has begun working with four further operators in UK waters and in the Gulf of Mexico.