Using the PetroVisor platform, the operator reduced project time by 70% and increased CAPEX efficiency by 77%
An onshore oil and gas company in Eastern Europe operates 220 oil and gas brownfields containing around 20,000 wells. Of these wells, 10,000 wells were shut-in and waiting for potential abandonment or reactivation. From the remaining producers, each well is evaluated for workover potential three to four times per year through a series of manual well by well reviews. Seeking a method for automating the workover candidate selection process, the operator chose the PetroVisor platform for screening 500 shut-in wells to determine reactivation opportunities. A machine learning application within the platform was used to deliver a ranked list of candidates to improve CAPEX efficiency and reduce risk. The platform integrated over 40 databases (including geologic, petroleum engineering and reservoir engineering) providing the operator with a digitized system of all well data for future use and cataloging. The project delivered a 70% reduction in time spent screening data, and a 77% increase in CAPEX efficiency.
