This report is one in a series which explores case studies around the adoption of operational excellence technologies and asset performance management solutions at prominent industrial firms.
Many oil and gas asset operators rely on paper printouts for their jobs, which can lead to lost work time, delays to maintenance, and therefore increase the incidence of asset failure. Aker BP, a Norwegian oil and gas exploration firm, undertook a digital transformation initiative visàvis its operations to increase productivity and lower costs.
This initiative included a well surveillance system to detect early signs of well failure and provide alerts; a smart monitoring system that combines physics based modelling and domain knowledge to optimize produced water disposal; an analytics based method for calibrating multiphase flow meters (MPFMs); and a 3D model of its oilfields to reduce time spent on manual inspections and locating equipment.
These initiatives are estimated to reduce Aker BPs operating expenses by 15%, saving $22.5 million annually.