Improving Offshore operations predictions
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A primary reason for the performance gap is the operational complexities in production and processing facilities. Control room operations of an offshore platform must analyze humongous amounts of data generated by as many as 30,000 sensors and also consider external factors that influence the production including temperature, humidity and wave heights.
Advanced analytics powered by machine learning leverage statistical methods to analyze highly complex and copious amounts of data and find patterns. These patterns can then be used to build algorithms which analyze the factors critical to production, efficiency and quality, alert operators about potential scenarios in the future that can impact rig operations, and enable them to respond in time. Advanced analytics is used to identify bottlenecks and suggest prescriptive actions essential for smooth operating conditions.
Benefits for the company
Increase the production capacity and remove bottlenecks for smooth operating.
Feasability
Medium
Type of expertise/ AI domain
Advanced Analytics, Machine Learning and Statistics
Internal data required
Sensors Data
According to a report by McKinsey, a typical offshore platform runs only at 77 percent of its maximum production capacity.On an average, this shortfall represents $200 billion in annual revenue.