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ITPS takes part in forum “Service and Equipment for the Russian Oil and Gas Industry”

11.10.2015

The ITPS Group, represented by its Commercial Chief Officer Andrey Gnezdilov and Smart Field project manager Sergey Volkov, took part in the XIV International Forum «Service and Equipment for the Russian Oil and Gas Industry» which was held in Moscow on October 9, 2015.

Mr. Volkov gave the presentation «Smart Field: Integrated Approach, Import Replacement, Localization.» He addressed an innovative comprehensive approach to oil industry challenges, including decreasing oil prices, rising costs of tight oil production and operation of brownfields. The Smart Field comprehensive solution will help oil companies reduce some of their mounting costs by streamlining costs of oilfield services, among others.

Smart Field is a set of technical and organizational tools used to develop a predictive, self-regulating and self-improving production control model through integration of tools and organizational aspects, large-scale use of real-time data as well as interdisciplinary situational analysis and communication.

This year the forum, which was first organized in 2003, focused on trends of the oilfield service market in the current economic environment, analysis of the latest industry technologies, strategies for retaining market positions and opportunities to improve business efficiency by suppliers of oilfield services and equipment.