Video: Leveraging Field Intelligence Through Operational Certainty: How Automated Operating Practices Deliver Industry Leading Results
- Jose A. Jimenez (Emerson Automation Solutions) | Peter Zornio (Emerson)
- Document ID
- Offshore Technology Conference
- Publication Date
- Document Type
- 2018. Copyright is retained by the author. This presentation is distributed by SPE with the permission of the author. Contact the author for permission to use material from this video.
- 6.3 Safety
- Top Quartile Performance, Operational Certainty, Reliability, Maintenance, Field Intelligence
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The oil and gas industry loses approximately $300 billion profit annually to poor operating performance. Outdated technologies and work practices are largely to blame because they lack the predictive capabilities of modern automation. When oil and gas producers adopt modern technologies and adjust work processes, they can recover a significant portion of these losses and realize top quartile performance in production, reliability, and safety. Examples illustrate this.
In response to low commodity prices, the oil and gas industry has rationalized operations and procedures over the last few years. However, estimates are that the industry still loses hundreds of billions of dollars annually to poor operating performance. Much of that can be recovered by emulating the practices of the industry's best performers. The top quartile of oil and gas producers deploys technology, processes and people in a purposeful orchestration to boost production, cut costs and improve safety. They define a strategy, analyze inefficiencies, prioritize opportunities, and then select technologies that can scale and leverage existing investments. Doing this substantially boosts the bottom line.