Operating nearly 2500 oil wells distributed over a large geographical area, management at a large oil and gas company believed they could improve production and lower operating costs by better managing their field assets.
Managing the wells in a reactive manner, the company decided to move to a predictive, condition-based operating model, contacting Matrikon and identifying a number of key objectives:
- Maximize production by minimizing unplanned outages through the prediction and prevention of
abnormal well conditions.
- Provide a way to ensure wells are producing in the “sweet spot”—continuously matching lift pumping with natural inflow from the reservoir.
- Reduce variable operating costs by reducing the number and duration of well interventions and workovers.
- Reduce fixed operating costs by moving to a centralized well monitoring solution, allowing
field operations staff to concentrate on continuous improvement and operational excellence.