Use a combination of fast, moderate, and slow optimization methods that result in reduced downtime while increasing production gain with a lower failure rate.
The PetroVisor Production Optimization App employs industry-standard analytical solutions, physics-based models, and machine learning approaches to optimize and prolong product life while ensuring continual improvement in field operations and decision making.
Fast loop optimization helps operators to reduce delayed production and shift from reactive to proactive methods, allowing operational and technical teams to take counter-actions ahead of schedule. Slow loop optimization enables engineering and asset teams to rate and propose the best rig-based and rigless optimization possibilities, saving the time and effort required for human opportunity evaluation.
to all disparate data sources regardless of type or location
all related data in a single, unified data layer for consistent answers
data and analytics in real-time with machine learning
The Production Optimization app computes the required key performance metrics, which include subsurface and surface items. Machine learning-driven and industry-standard approaches are used to optimize reservoir and field recovery and increase production gain.
The app allows users to develop a unified perspective that generates a sustainable, consistent, and comprehensive portfolio of rig-based and rigless candidates in hours rather than weeks or months.
The app can considerably decrease the time required for manual well assessment by giving a digital cortex and prescriptive actions for underperforming wells and reservoirs that warrant further study.
The approach assists in the automatic re-evaluation and selection of prime candidates while boosting the economic success rate of executable opportunities.
Using the PetroVisor™ platform, the operator delivered an NPV improvement of $751 million (34%) and reduced CAPEX by $15.4 million (34%).