Norway-based ExproSoft has developed WellMaster Simulator, a cloud-based well life simulator for new and mature fields. The solution is designed to help oil and gas operators predict well interventions, downtime, and operating expenses (OPEX) for both new field developments and fields in operations.
Estimating the life time cost of oil and gas operations is a challenge for operators, both when planning new developments and assessing life time extensions of mature fields. Often the estimates are based on outdated, incorrect, or irrelevant data. This may result in decisions that bring unnecessary high cost, or incorrect forecasting for downtime and OPEX.
Alternatively, WellMaster Simulator utilizes well equipment reliability data to simulate the expected downtime and interventions for wells. This allows the oil and gas operators to evaluate well designs, see the effect of change in maintenance plans, identify cost-, and downtime drivers, and more.
Simulation capabilities are made possible by RAM Studio, a software developed by the recently-acquired Miriam, and well equipment reliability data available from WellMaster RMS (containing 40,000 well years of history).
"WellMaster Simulator will make lifecycle cost and intervention analytics available to field development projects and assets,” said Roger Klausen, COO of ExproSoft. “This will enable them (operators) to easily evaluate alternative designs and maintenance strategies.”
WellMaster Simulator will be available in Q1 2017.
Image: WellMaster RMS/ExproSoft