How Technology Influences Petro-Technical Industry | SolbegSoft

How Technology Influences Petro-Technical Industry

August 25, 2020
    With digital transformation causing massive disruption across industries, Oil and Gas industry is also getting at the forefront of adopting new age technologies. For an industry that has seen drastic cuts in investments, workforce numbers slashed, and projects stalled, shifting towards automation led digital transformation has become of paramount importance.

Oil and gas industry is one of those industries which lean on AI tremendously. Artificial Intelligence optimizes business operations, productivity, and safety.

Extracting the most from existing resources – new technologies provide the helping hand.

The companies that can move on new projects will continue to do so with a lower headcount. However, without the proper resources, companies run the risk of being unable to fulfill critical projects. We are seeing an emerging maintenance gap, particularly in the offshore environment. Older engineers are either being kept on for their experience or let go because of their relatively high cost. There is also a lack of younger engineers coming through to bridge this gap, who traditionally adapt more easily to new technology.

Petro-technical applications should cover a variety of aspects:

  • Determine digital transformation strategies and expected outcomes to help operators reduce costs and improve efficiencies.
  • Develop an integrated, upstream data management platform to generate intelligence and analytics about oil field performance.
  • Optimize operations efficiencies and oil and gas production.
  • Develop an executable vision for transforming oil field operations into resilient operations based on innovative 3rd Platform technologies
  • integrate new accelerators like natural interfaces, 3D printing, robotics, and other new capabilities to rapidly adopt to change.
  • Leverage new approaches and technologies to improve productivity and performance.
  • Maintain and strengthen security, safety, and environmental protection.
  • Reduce the costs of capital projects, drilling, completion, production, operations, and maintenance.

SolbegSoft specialists developed sophisticated workflow automation and data analysis tools that offer fast and accurate answers to complex questions and integrate with production applications and data repositories to deliver continuous performance improvement. The developed software employs data mining technology, which helps discover hidden correlations, patterns, and trends by analyzing large volumes of data. It uses advanced pattern recognition as well as statistical and mathematical techniques that can be applied at the well, branch, or asset level for:

  • control of production data quality;
  • identification and prediction of abnormal well behavior;
  • reconciliation of database (to fill in missing data);
  • estimation of well performance;
  • data-driven selection of a candidate.

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