Asset appraisal has always involved lots of geophysical number-crunching mixed with 3D visualization — the reservoir models, held close to the vest by the reservoir engineers.
There’s always been an element of “black magic” in upstream oil and gas. Think of the geologist holding court at the petroleum club, who can make a better call, after a long lunch, that can be gleaned from all the data and analytics that have been pored over by all the quantitative guys.
It’s that mix of experience and data that is key to the sustained competitive advantage.
Today, more than ever, it’s crucial to come up with a formula to capture decades of deep process knowledge in running petroleum assets at a lower operating cost. This also applies to bringing new assets online with a lower sustainable cost profile.
AspenTech can bring a unique mixture of these alchemists’ ingredients to bear on today’s upstream assets.
At our R&D labs, we are renowned for our team of chemical engineers, who have in many ways invented the digital modeling technologies used today across the industry and continue to innovate and develop them at a breakneck pace. The industry pace-setter is Aspen HYSYS®, which we’ve transformed into a concurrent engineering toolset that can roll out repeatable best-practice standardized designs. There’s also the APC platform Aspen DMC3™, which we’ve evolved from the original dynamic matrix control engine into a self-learning and self-repairing advanced process control system.
What we’ve now done is added a formidable team of leading-edge data scientists and network scientists — applying innovations in machine learning, big data and high-performance computing to the unique twists that process and petroleum engineering present.
Some of the results are already stunning.
Read our white paper on upstream reliability and digital transformation to learn more today.