Wednesday 10 January 2018

Big data ‘boosts oil and gas production’

The big data revolution is boosting offshore oil and gas production.

That's according to technology specialist Operational Excellence (OPEX), which has unveiled a new service harnessing data to predict downtime and to optimise the performance of oil and gas production systems.

It says predictive data analysis can be used to reduce the likelihood and severity of costly critical system failures.

The system works by identifying threats and emerging issues in advance by tracking deviations from perfect operation, enabling interventions to maximise production and avoid problems.

Oil & Gas UK’s Efficiency Task Force Chairman, Phil Simons, 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."