World Oil Production Optimization Featured Article
A deeper look offshore with, closed loop production optimization: one step closer to autonomy.
Key benefit areas are:
- Increased production without investment in equipment and with minimal impact on staff
- Minimized production losses during field upsets
- Ability to do “what if” scenarios
- Re-optimization at the push of a button
- Incorporation of all aspects of the oilfield from sand face to sales in a single model
- Optimization model reflects today’s operation of the oilfield, not a theoretical model or an AI-trained black-box model
- Simple operator interface allows field staff to make the best decision based on latest information
Get deeper insights here!
In the majority of upstream production operations today, individually defined KPIs are isolated and siloed across wells and process plants. Several separate models are needed to optimize the production value chain and the results of one model do not necessarily consider the constraints of other models.
Siemens Energy has developed a real-time solution for optimizing production from sandface to sales export. Real-Time Production Optimization (RTPO) leverages the trends of low-cost computing, IoT and state-of-the-art optimization software to enable complete oilfield modelling from the sand face to sales within a single unified optimization model. Now upstream companies can maximize oil production while minimizing gas lift, flare, energy consumption or other constraints.
The Real-Time Production Optimization solution helps reduce deferred production by moving more oil, condensate or gas from wells to sales export. This does not require any new equipment and is offered as an annual subscription service.
Webinar: 5 Reasons Production Optimization Succeeds
Siemens Energy’s development of a powerful digital twin model is at the heart of a system of real-time production monitoring and optimization. Using the integration of data, optimization and visualization of the entire value chain – from subsurface equipment to central processing facilities – production can be potentially increased by 3-8%.
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