Production Optimization is the continuous orchestration of the production operation to deliver the target business outcomes (objective functions) without violating the process constraints. The most common goals are maximizing asset value, minimizing cost, maximizing throughput or increasing ultimate recovery.
Optimization is performed on ad-hoc basis only when targets are not met
Optimization is only performed within operational silos, and not across entire operation breadth
Optimization requires a lot of preparation and is therefore very time consuming
Model creation, maintenance and calibration with the operational reality of the asset is difficult
The recommendations from optimization are not translated to field action
The outcomes are not continuously monitored and feedbacks are not captured to improve the optimization cycle
The benefits of Realtime Optimization
Continuous production optimization through automated and integrated processes delivering value throughout the production operation life cycle
Holistic approach to maximize the asset value and at the same time delivering the operational objectives like increase production, minimize operating costs, reduce energy consumption, etc
Leverages existing models and adopt fit for purpose tools including proxy and data driven models to provide solutions that are easy to create and maintain
Tight integration with operations through automated workflows to execute recommendations and achieve results
Continuous monitoring and feedback capturing to finetune the optimization process.
What defines IPCOS Realtime Optimization?
IPCOS Digital Asset Optimization is comprehensive, integrated and frequent. We bring the holistic optimization approach where you can select the target business outcomes. We orchestrate the integrated process model that will simulate and provide recommendations to achieve the objective outcomes
IPCOS Digital Asset Optimization is automatic: Optimization workflows typically run complex algorithms, processing data from all over the asset. To make this sustainable, workflows need to be automated as much as possible and the loop needs to be as closed as possible. While human intervention is allowed, it should only be by exception
IPCOS Digital Asset Optimization honors constraints from all disciplines: While maximizing optimization objectives, the optimization workflows needs to honor constraints from production, maintenance, surface facilities and other operational limitations. This will ensure the results are practically achievable in the asset.
Manage business objectives and constraints centrally, consistent and accepted across the organization; and define clear process and accountability for maintaining and modifying them
Integrate engineering and operational workflows within the optimization process to ensure the recommendations are translated into operational actions
Design the optimization models and process with sufficient parameterization and process configurability, that will allow to accommodate future tuning, and easily managed by the end user.
Capture feedback from the field and continuously iterate the optimization process reconciling the asset reality into the process.