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During one of ARC’s 20th Annual Industry Forum sessions titled Leveraging Smart Field Systems to Create Value in Process Industries Dave Lafferty, President of Scientific Technical Services (retired BP and ARC Associate) presented an interesting presentation on IIoT and the enormous potential for the unconventional oil & gas reservoirs.
Dave highlighted some of the issues and challenges facing the upstream segment including operating in large are basins such as the Permian, Bakken and Eagle Ford, among others; the need to enhance oil recovery for wells still producing at low prices, the impact of the “Great crew change”, and increasing shareholder activism, among others.
Some of the areas in which IIoT can enhance upstream operations include some of the following:
Other operational areas included Asset Integrity such as ensuring long term performance of the field; capturing corrosion, well integrity and equipment reliability information; increase estimated ultimate recovery (EUR) by optimization of enhanced recovery devices (e.g. pumps jacks and ESPs) or determine well intervention performance.
Lafferty highlighted some of the following benefits of IIot including:
ARC will be making copies of the Forum session presentation available to attendees in a couple of weeks and videos of each presentation and follow-on panel discussion will be forthcoming in a couple of months. There was lots of great information and lively discussion during the Forum and this session in particular.
Dave highlighted some of the issues and challenges facing the upstream segment including operating in large are basins such as the Permian, Bakken and Eagle Ford, among others; the need to enhance oil recovery for wells still producing at low prices, the impact of the “Great crew change”, and increasing shareholder activism, among others.
Some of the areas in which IIoT can enhance upstream operations include some of the following:
Other operational areas included Asset Integrity such as ensuring long term performance of the field; capturing corrosion, well integrity and equipment reliability information; increase estimated ultimate recovery (EUR) by optimization of enhanced recovery devices (e.g. pumps jacks and ESPs) or determine well intervention performance.
Lafferty highlighted some of the following benefits of IIot including:
ARC will be making copies of the Forum session presentation available to attendees in a couple of weeks and videos of each presentation and follow-on panel discussion will be forthcoming in a couple of months. There was lots of great information and lively discussion during the Forum and this session in particular.