Digital Transformation Project of The Year : ADIPEC 2021

Digital Transformation Project Of The Year

Artificial Intelligence Assisted Well Portfolio Optimization - An Automated Reservoir Management Advisory System to Maximize The Asset Value

CHALLENGE

Matured hydrocarbon fields are continually depleting, making the selection of well interventions a key effort with the intention of boosting business value. Time-consuming simulation models and a traditional manual decision-making strategy make it challenging to discover the best underperforming candidates, and opportunities for rig or rig-less options rapidly.

PROJECT OBJECTIVE

Implement an automated solution with data-driven machine learning (ML) & AI-assisted workflows to prioritize the well intervention opportunities that can deliver higher sustainable oil rates and profitability.

THE SOLUTION

PetroVisor was implemented and tested in a giant mature field with over 300 wells. The solution identified more techno-economical feasible opportunities within hours instead of weeks or months with reduced risk of failure resulting in an improved economic success rate.

PetroVisor provided tools to maximize profitability and minimize CAPEX and OPEX. In this example, PetroVisor further maximizes the utilization of production optimization models by 30%.

A hybrid approach of physics and machine learning based solution led to the development of automated workflows to identify and rank the inactive strings, well conversion to as lift candidates & underperforming candidates resulting in successful cost optimization and production gain.

ADDED VALUE

PetroVisor maximized asset value with the realization of additional production gain from active wells and increased profitability by optimizing CAPEX & OPEX. 

REDUCED TIME

PetroVisor significantly reduced the time and effort by 90% for well reviews.

DATA INTEGRATION

PetroVisor was able to connect, characterize and cleanse data comprising of 40 years of production history, 50,000 well tests, real-time wellhead data, reservoir properties, 20 years’ work-over/intervention history, 20,000 well historical events, physics-based models, RST & PLT logs, well integrity data & historical well intervention & work-over job success.

Have a Question? Ask Us Anything.

Have questions PetroVisor and its capabilities, or want to know more about Datagration? Our experts will answer your questions, provide advice and offer insights.

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Additional Resources


 

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WHITEPAPER

Optimization Methods Using PetroVisor™

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WHITEPAPER

Automated Well Portfolio Optimization

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WEBINAR

Production Gain Using PetroVisor™

The Value Of PetroVisor

PetroVisor delivers tangible, material, and rapid payback to its customers.

  • Influence operational and process improvements to drive forward sustainability goals using AI and ML while tracking and reporting ESG metrics all in one place.

  • Improve asset decision making, whether development strategy and/or acquisition & divestiture evaluation, increasing capital & investment efficiency with a solid technical and economic underpinning. 

  • Know, rather than assume, how the firm and individual assets are performing in comparison to expectations. Resolve issues as they arise, rather than after they have inadvertently festered.

See PetroVisor In Action