Since the early days of oil and gas production, operators have faced the challenge to measure the flow of gas, oil, and water to manage and optimize production in wells and pipelines and to assure safety in their operations.
The year 2020 is mind-changing both for society and for industry, and the oil and gas industry is no exception. With Covid-19 causing medical and economic issues globally, and the Russia–Saudi Arabia oil price war imposing further pressure on the oil price, the price of crude went negative for the first time in history in April this year. At the same time as the economic impacts resulted in furloughs, many companies implemented work-from-home practices to keep their employees safe. On the personal level this caused new challenges for many households. On corporate level, it led to rethinking, e.g., policies on on-site work vs. working remotely, how digitalization can further increase efficiency, and how to optimize operations to avoid shutdown and deferrals. Once more, we see the increased focus on cost sensitivity and cost cutting – perhaps the one entity familiar to us in current times.
Accessing the right technology should not be a luxury, but a given
It may be unquestionable that oil and gas assets with existing flow simulation technology in place will look heavily into optimizing operations. However, many fields are not equipped with such technology and will continue to face challenges. We know that operators know they need to address this and work smarter – use better tools, reduce overhead costs, make quick intelligent decisions. Access to the right technology should not be a luxury but a given in times when economic stability of businesses, health and safety, and the welfare of individual households demand this.
Access to real-time insights of the production flow is the starting point for real-time production monitoring and production optimization. Such insights rely on real-time access to already available information, e.g., pressure and temperature information. Pressure and temperature sensors are commonplace in oil and gas assets, and these sensors have since long been connected devices which deliver data to historians, databases, data platforms, etc. However, while the information has been available, it has not been generally accessible. With the transition to Cloud-based solutions this landscape changes. Data is not only centralized to a larger extent but also more accessible as data platforms enable secure access to necessary data through APIs. This offers great opportunities for the solutions that can monetize the increasing accessibility to data. The winners will be the solutions which can easily connect to the various data sources, consume the information, and convert this into real-time, actionable insights.
These solutions will leverage accessibility to data and be one step closer to the ultimate goal – accurate production monitoring and production optimization.
The digitalization era has given us the ability to automate processes, deploy faster, and make information more accessible. Turbulent Flux echoes this and offers advanced production monitoring and optimization technology that combines predictive capabilities of physical flow models with the speed and self-correcting abilities of data analytics. With Cloud-native software and a rich API open for any third-party use and integration, Turbulent Flux allows you to address your concerns quickly and widely.
For businesses to survive 2020, the right solutions must be in place; solutions that are easy and quick employed at a low cost.
If you like to learn more about our solutions contact us on email@example.com.