The energy transition has changed the playing field for international oil companies (IOCs). Forward-thinkers are moving away from the IOC label and forging broader energy commercial strategies. Those working on traditional O&G portfolios within these organizations are being challenged to optimize investment, without compromising returns.
O&G companies must, therefore, improve the cost-effectiveness of operations across asset portfolios to reduce OPEX and optimize production, fast. Adopting a central digitalization strategy combining data from all sensors and assets can create a comprehensive view of operational performance and production potential across an entire enterprise. This puts an end to siloed decision making and unlocks significant portfolio-wide benefits.
My role at LYTT is to advise customers on how LYTT’s analytics platform and applications suite can enable both their short-term operational targets, as well as supporting their longer-term strategic energy transition goals. In this article, I’ll discuss how LYTT’s cloud-based, analytics platform and innovative applications, such as our Production Profiling app, can help address the operational challenges being faced by O&G companies, enabling field-wide efficiencies, and maximizing production.
LYTT’s cloud-based platform
LYTT’s end-to-end platform combines, centralizes, and analyzes data from multiple sources and implements the latest innovations, like sensor fusion, advanced machine learning and artificial intelligence.
LYTT’s platform helps address the common IT barriers to an optimized digital approach: data volume and data silos. Our platform enables secure, big data streaming, storage and visualization, empowering O&G companies to better leverage their data to make more informed operational decisions that result in increased efficiency and production. In addition to these benefits, LYTT’s platform also provides economies of scale and time savings when rolled out across asset portfolios.
Our solution has created hundreds of millions of dollars in additional value for O&G customers, deploying applications that address a broad spectrum of operational challenges. Our Production Profiling application offers a good demonstration of this value proposition in practice.
Production profiling – asset optimization at work
Conventional production profiling requires engineers to capture multiple datasets on downhole conditions individually and interpret them manually. This profile is a single snapshot in time, which is insufficient to understand how dynamic subsurface conditions are changing over time.
LYTT’s Production Profiling app can be deployed across all wells in an asset where fiber is installed, to gather data continuously, identifying changes in the production profile over time. This facilitates real-time insight development by capturing and analyzing data on zonal multiphase flow rates, including sand production, and more simultaneously, combining them centrally in the cloud to develop a complete production profile.
This real-time production profile gives operators critical information as it happens, which they can use to make decisions on asset optimization, such as identifying sources of undesired water and/or gas production for potential shut-off remediations or informing flow rate optimization and pressure support strategies. The app also enables operators to consolidate the individual products they use to track each event into one solution, simplifying the production profiling process and realizing additional cost savings.
In this way, LYTT’s production profiling app encapsulates the benefits of an enterprise offer, using the insights from multiple, centralized data sources to unlock portfolio-wide visibility and streamline costs for solution management.
Enabling your digital journey with LYTT
LYTT continues to lead the charge for digital advancement in the O&G industry. We specialize in working within complex asset and field commercial arrangements to deliver strategic value to O&G customers.
To discuss how LYTT’s platform and applications can support your business, please click the Book a Demo button below to get in touch.