EXPLORATION • DRILLING • FIELD SERVICES
upon and merged with adjacent revolutions effectively. Big data and AI are already on-hand to help filter and analyse the data that systems such as M-Flow’s can generate, and from there a rapid snowball effect of adoption is a very real possibility. “In North America, there are four big
wellhead suppliers, catering for 90% of the onshore market. If one gains a 2% market share increase because it’s able to tell its customers that measurement systems are already built in and the data they’ve generated has improved overall business efficiencies and profitability, then within a year all of them will have a meter,” Edward concludes. “At that point, every wellhead that’s built in North America will come with a measurement system embedded and it will be an ‘opt-out’ decision rather than ‘opt-in’ that will also have the added benefits of fewer HSE incidents, and an improved environmental footprint.” Te ramifications of this evolution will be more significant than simply seeing the oil sector embrace a new state of mind. Rather, it will signify a belated collaboration and bridge between old and new, to finally bring a sense of transparency, value and accuracy to the wellheads from which all oil production flows.
LEFT: M-Flow’s multiphase meter
DATA WASTAGE
I
n 2019 the Wall Street Journal reported that the oil & gas industry uses
less than 5% of the data it generates. A clipboard, bucket or telex report approach means that the sector is missing out on vast portions of information. And even the data that is generated is either inaccurate or not analysed appropriately until Silicon Valley-like entities are brought into the fold. Edward says: “We have
moved on in some regards, but there’s still plenty of scope for improvement – before a well is drilled, during operations and after oil is extracted. New technologies and effective data optimisation tools can bring to an oil company ‘here’s that data I promised you, here’s what it means and here’s how you can leverage it moving forward to improve your business’.”
solution, which comprises the meter, data communication systems, logging systems, data warehousing and manipulation through our own server, and then detailed analysis of the daily numbers and flow trends. Or alternately, individual hardware components instead. “Te important thing is that companies do begin to shift towards this digital oilfield methodology.”
BRIDGING THE OLD AND NEW According to an Oxford Economics and KPMG report, digital oilfields could generate as much as US$1 trillion to the global economy by 2025 if capitalised
Pipe view shows the sensor system is non-intrusive
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