Oil & Gas Equipment
We recently took at detailed look at Oil & Gas Industry adoption of Internet of Everything principles.
· The industry has clearly experienced significant collapse in net income since mid-2015; bankruptcies, layoffs and significant capital investment cuts.
· The trend will not reverse. It might hold steady, with $50’ish price per barrel. It makes it essential explore new methods
· There is rapid interest – and quite a few use cases – in IoE; drones for remote asset management, augmented reality, 3D visualization, predictive analytics and sensor-based connected devices across the value chain
· Large capitalization (s&p 500) companies in particular (Baker Hughes) are leading the charge
· Baker Hughes (BHI) started field-testing PRIDE, an augmented reality enabled software developed by TRACLabs. Providing automation assistance to drilling operations. Successful test results for the software could encourage other oil and gas players to use augmented reality in their drilling operations
· Another emerging trend is remote monitoring of fixed assets. Advanced sensors, drones, and connected devices used to monitor assets from remote locations. FMC Technologies (FMC) used one such device designed to provide continuously updated knowledge about a subsea asset’s integrity
· Davon Energy (DVN) recently using predictive analytics to analyze data from thousands of wells and determine the best candidates for re-fracturing.
· ConocoPhillips (COP) leverages drones for predictive analytics as well as wearable’s for worker oilfield safety
Highlights from the study include:
|Augmented reality to enhance operational efficiency:
· Baker Hughes is field-testing PRIDE, an augmented reality enabled software at several sites world-wide before deployment in actual operations in mid-2016
o Helps increase the effectiveness of drilling operations by providing assistance in performing complex and dangerous procedures
· Oceaneering using augmented reality technology to improve safety, operation management, mission accuracy and training
|Baker Hughes using AR enabled PRIDE software
|Remote monitoring to access ‘difficult to get’ real time data
Sensor networks used to capture real time data from remote locations; optimizing asset performance and reducing wasted time
· FMC (FMC) surveillance system, providing real time data on subsea asset’s integrity.
· Similarly, Baker Hughes (BHI) launched WellLink Performance Service to help operators reduce invisible lost time (ILT) by transforming data from legacy applications, drilling reporting systems and data streams into real-time, actionable information.
· Oceaneering’s (OII) Remote Piloting and Automated Control Technology enhances operational efficiency of remotely operated vehicle (ROV); diminishes operational and environmental risks while reducing potential damage to tooling, manipulators and subsea assets
|Use of Cloud, Big Data and Analytics to optimize production
· Halliburton(HAL) using IBM Cloud to run hundreds of simulation cases forecasting possible behavior of complex oil and gas fields
· Baker Hughes released FieldPulse model-based, predictive analytics software; allows operators to optimize production fields
|3D Printing used in adaptive manufacturing/prototyping
· Numerous examples across the industry; Halliburton has been using 3D printing across its different business lines, including completion tools, wireline and perforation tools, testing and subsea,drill bits and services lines
|Halliburton using 3D printing for prototyping equipment parts|
|Seismic data acquisition and processing
Monitoring micro-seismic events.
· Seismic data acquisition service from Baker Hughes seamlessly acquires both high-quality vertical seismic profile (VSP) and microseismic data during VSP surveys without an additional wireline logging run
· A data-driven, neural network model was developed by CARBO Ceramics to quickly and economically evaluate completion effectiveness for Marcellus shale wells
|Seismic data acquisition service from Baker Hughes|
Click the pdf here to download Oil & Gas Equipment Musing
Enjoy, Serge, Piercing View, @PiercingView