Predictive Analytics for an Intelligent Oil & Gas Operation
There aren’t many oil and gas professionals who would argue that an equipment failure costing millions of dollars in damage, repairs and unplanned downtime is something they would do anything in their power to avoid. Yet, when presented with data that indicate a failure is imminent, many companies fall for the risk-averse trap of ignoring the problem, rather than believing they can prevent asset failure and crippling repair costs if they act early. The wildest part is that the technology already exists that can tell an operator when and how to act. The next step is to change the mindset – trust the data and be proactive to stop problems before they occur.
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