Fast and Remote: Roadmap for Getting out of a Perfect Oil Storm

Early 2020 has become challenging for the oil and gas industry. The borders have been shut down due to the coronavirus pandemic and consumer activity in major global markets have reduced. Oil prices went into a steep peak after the collapse of the OPEC+ deal and are still at the bottom, despite the hastily concluded new OPEC++ deal. The oil and gas companies face the challenge of optimizing their capacities and resources as quickly as possible to deal with the crisis, and at the same time create a reserve for future development.

Due to the new challenges and risks the oil and gas market faced, the focus of the entire market is on tools and techniques that can quickly provide the desired result. Experts are sure that the correct defenition of tasks, consolidation of production data and provision of effective management of key processes in the correct order and within a digital layout, will help the oil and gas companies to get through the crisis and improve their market position after it stabilizes. Therefore, the ITPS Group of Companies, having the first position in the “Best Provider of IT Solutions for the Oil and Gas Complex” rating according to the “Production Management” portal, assists its customers in this difficult time, and offers a clear roadmap consisting of just three steps:

Step #1: Correct definition of optimization areas: conducting an express survey of fields and production assets will help to precisely identify the areas in which digital technologies’ application might give quick effects. 

Step #2: Development of integrated models of the optimized assets - “digital twins”: development and creation of component models (reservoir, well, ground infrastructure), creation of a single integrated model, its adaptation and set-up. The integrated model will allow calculating the potentials of each asset individually, identify bottlenecks and understanding of how the implementation of certain production operations will affect the system as a whole, both short and long term. It might help to evaluate the operation of wells, select optimal production regimes, reduce shortfalls, plan measures and thereby optimize the overall operation of assets. 

Step #3: Integration of created models into the regular production management processes. For the model to stay relvant after its creation, it is necessary to integrate it with production information systems, to launch new business processes to update, optimize production, and include production management approaches into integrated operations based on predictive models and real-time data. 

The ITPS Group of Companies assists its customers in going along this way as quickly as possible by using its own technologies to accelerate the creation of models and automate production optimization processes on the AVIST Oil&Gas platform. The key task of which is to determine the actual potential of production assets, that is the main condition for maintaining the operating production efficiency in the current situation.

“The companies that were the pioneers in using digital production management tools have more flexibility and responsiveness in times of crisis. Therefore, the implementation of integrated digitalization roadmaps takes years, and not all companies can afford that in such a difficult time. To reduce the time and resources of our customers, we took the extensive portfolio of ITPS services and selected the measures that can bring quick wins, will not take more than three to six months to implement, that are carried out 90% remotely and can be implemented by our team in our infrastructure and our digital AVIST OIL&GAS platform completely. In this model, we realize that the customer will pay for the service only if they provide a real economic effect,” said Rustam Kamalov, Deputy CEO Oil&Gas Solutions.