Unlocking Production Optimization Insights

Thursday, August 8, 2019

Oilfield services company Weatherford said it has integrated Microsoft's Power BI business analytics service into its ForeSite production optimization platform, in a move to enable customized, asset-level operational insight.

The Power BI features integrated into the ForeSite optimization workflow enable visual data exploration to condense vast amounts of oilfield data from any corporate data source into actionable dashboards and reports, Weatherfod said. The platform's users will be able to create and visualize customized data reports or select from a series of built-in visualization dashboards and reports that monitor key performace indicators (KPI) and identify production optimization opportunities, it said.

Among the pre-built, production-data analysis package are:

  • Financial Health Report lets users assess production versus spend by job, by service provider, by asset group and more. This leverages data from ForeSite Field Services Management module.
  • Failure Analytics Report lets user assess current and historical failure data to gain insight into vendor or technology efficiency, including equipment performance of two or more vendor brands to determine the lowest total cost of ownership.
  • Asset Performance Dashboard gives real-time update on preset KPIs such as production targets, asset downtime, uplift potential and more.
  • Manager’s Report gives a broad, asset level performance visualization for an asset or enterprise including estimated versus actual spend and production.

“By fully integrating Power BI into our powerful ForeSite platform, we’re helping our customers see their production data in a way that’s easily accessible and visually informative, yet requires far less preparation and data-science expertise,” said Manoj Nimbalkar, Vice President of Weatherford Production Automation and Software. “Simply put, we’re putting asset-level intelligence and data reporting at the operator’s fingertips.”

The Power BI connector is the latest expansion to ForeSite platform capabilities. Introduced in May 2017, the ForeSite enterprise-level platform is designed to optimize the complete life-of-well productivity from downhole to the point of sale. The platform combines physics-based models with advanced data analytics to improve performance across wells, reservoirs, and surface facilities on a single, secure platform. It optimizes naturally flowing wells, reciprocating rod lift, electric submersible pumps (ESP), gas lift, plunger lift, injection wells, progressing cavity pumps (PCP) and soon hydraulic lift.

Categories: Technology Industry News Software Automation

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