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Anyone that has been following the industrial-iot.com blog has seen several posts highlighting some of our thoughts on some of the groundbreaking IIoT related upstream oil & gas success stories, many of which involved GE Oil & Gas. GE Oil & Gas is doubling down by launching a new Oil & Gas Digital solutions business and is also partnering with BP (yet again) on a solution that will introduce new process surveillance and predictive analytic tools to provide early warnings of potential facility issues.
GE’s CEO Jeff Immelt likes to talk about the need for industrial companies to become software companies. At the GE Minds + Machines conference last fall in San Francisco, he clarified: “I don’t really consider GE a software company per se. But we’re a company that needs to be based in software going forward.” To that end, GE invested more than $1 billion on its Predix cloud platform, and is determined to go after business outside the GE group. The new Oil & Gas Digital Solutions business is the latest move by GE to make good on that promise.
As a demonstration of those optimization capabilities, GE is partnering with BP to create a digital solution for reducing unplanned downtime at BP’s offshore operations in the Gulf of Mexico. The solution aims to increase facility reliability by looking holistically at the process level—introducing new process surveillance and predictive analytic tools to provide early warnings of potential facility issues.
“As we move to a digital world in the oil and gas industry, we look to digital technologies to help us move to the next level of operational excellence,” said Dave Feineman, senior advisor on digital technology for BP’s Upstream Technology organization. “These digital technologies offer the opportunity to collaboratively develop industry-leading solutions to address some of the most significant challenges in field operations.”
GE has been forming a variety of partnerships to help develop the right software solutions for the Internet of Things (IoT). As part of the company’s plan to deliver this latest digital suite, GE Oil & Gas has also announced a partnership with Paradigm, an independent software developer for the oil and gas industry.
The partnership aims to combine Paradigm’s subsurface knowledge with GE’s production intelligence. Reservoir Driven Production Optimization (RDPO) runs Paradigm’s modeling and petrochemical services on GE’s Predix to create an upstream solution for optimizing field-level production. Particularly with the low price of oil, it has become more important than ever to maximize the life of existing reservoirs while reducing operating costs. Improving problem detection and treatment design can reduce operational costs by 10-25 percent, GE says, through fewer interventions and more efficient use of resources. RDPO provides a clearer understanding of the reservoir geology, permanent monitoring of wells and predictive analytics.
GE’s CEO Jeff Immelt likes to talk about the need for industrial companies to become software companies. At the GE Minds + Machines conference last fall in San Francisco, he clarified: “I don’t really consider GE a software company per se. But we’re a company that needs to be based in software going forward.” To that end, GE invested more than $1 billion on its Predix cloud platform, and is determined to go after business outside the GE group. The new Oil & Gas Digital Solutions business is the latest move by GE to make good on that promise.
As a demonstration of those optimization capabilities, GE is partnering with BP to create a digital solution for reducing unplanned downtime at BP’s offshore operations in the Gulf of Mexico. The solution aims to increase facility reliability by looking holistically at the process level—introducing new process surveillance and predictive analytic tools to provide early warnings of potential facility issues.
“As we move to a digital world in the oil and gas industry, we look to digital technologies to help us move to the next level of operational excellence,” said Dave Feineman, senior advisor on digital technology for BP’s Upstream Technology organization. “These digital technologies offer the opportunity to collaboratively develop industry-leading solutions to address some of the most significant challenges in field operations.”
GE has been forming a variety of partnerships to help develop the right software solutions for the Internet of Things (IoT). As part of the company’s plan to deliver this latest digital suite, GE Oil & Gas has also announced a partnership with Paradigm, an independent software developer for the oil and gas industry.
The partnership aims to combine Paradigm’s subsurface knowledge with GE’s production intelligence. Reservoir Driven Production Optimization (RDPO) runs Paradigm’s modeling and petrochemical services on GE’s Predix to create an upstream solution for optimizing field-level production. Particularly with the low price of oil, it has become more important than ever to maximize the life of existing reservoirs while reducing operating costs. Improving problem detection and treatment design can reduce operational costs by 10-25 percent, GE says, through fewer interventions and more efficient use of resources. RDPO provides a clearer understanding of the reservoir geology, permanent monitoring of wells and predictive analytics.