NORWEGIAN MINISTRY OF PETROLEUM AND ENERGY VISITS OPEX

Members of Norway’s Ministry of Petroleum and Energy visited OPEX today (30th October 2018) to learn more about our X-PAS™ Predictive Analysis Service and the work we are doing with oil & gas operators in the UKCS and Gulf of Mexico

The delegation, led by the Head of the Norwegian Oil & Gas Department, was organised in conjunction with the Oil & Gas Authority.

During their visit, our team of data scientists demonstrated the X-PAS™ service in action and highlighted how the insights generated enable our customers to eliminate production loss, cut maintenance costs and improve safety.

Following their time at OPEX the delegation visited the Oil & Gas Technology Centre to discover more about the new technology projects that are kicking off in the region.

DIGITALLY ENABLING OPERATIONS - ASSET WIDE

As the X-PAS™ services continues to roll out to new customers, assets and systems we are pleased to announce that an existing customer has extended the use of the service to cover all critical production systems on another one of their legacy assets.

Under the new agreement, both X-PAS™ Smart Production and X-PAS™ Smart Maintenance services will be implemented asset-wide.

The roll out will involve close collaboration with the customer’s support teams and is directly focused on the reduction of production losses and maintenance costs.

X-PAS Smart Production and X-PAS Smart Maintenance

X-PAS™ SERVICE EXTENDED WITHIN OUTER MORAY FIRTH

The X-PAS™ service is set to launch this month on an existing customer's legacy asset in the Outer Moray Firth. This is the second field in the Moray Firth to adopt the service.

The initial focus for the customer, a global oil and gas operator, is to prevent system outages on the Power Generation system and maximise recovery.

OPEX will work as an extension of the customer's support team to extract new value from existing data sources to provide insights and recommendations on a continuous basis.

Find out more about the X-PAS™ service here.

The XPAS Service

SCOTTISH ENERGY MINISTER FOCUSES ON OIL & GAS DIGITAL TRANSFORMATION

We were delighted to welcome Paul Wheelhouse, Scottish Government Minister for Energy, Connectivity and the Islands, to OPEX during his recent visit to Aberdeen when our team had the opportunity to discuss how the Scottish Government can support the industry to unlock value through the adoption of data analytics and digital technologies. The Minister was joined by Scott Bradley, Head of Oil & Gas Policy at the Scottish Government and David Clarke.

Jamie Bennett, OPEX Group CEO commented: “We welcomed the opportunity to meet with the Scottish Government team to brief them on the impact that digital technologies and data analytics is having on the industry and the work we are doing with oil and gas operating companies to digitally enable their operations.

“The industry’s digital transformation presents significant value to the local and national economy and will lead to the creation of new jobs, particularly in the areas of data science and analysis.”

Minister for Energy, Connectivity and the Islands, Paul Wheelhouse, said: “I am delighted to have had the opportunity to visit the OPEX Group. They are a dynamic company that is very well placed to play an important role in helping data driven innovation and reducing unplanned maintenance costs for producers and minimising health and safety risks. I was very impressed with their energy, their ingenuity and their drive to succeed in establishing the standard for digitally enabled oil and gas operations.

“I was particularly impressed with how they have pioneered new ways to help the oil and gas industry extract more value from existing data with measurable, tangible results. If we are to deliver the benefits of digital transformation across the industry, we need companies like OPEX in Scotland.

“In my view, innovation remains crucial to the oil and gas sector for maximising economic recovery and sustainably reducing costs, for driving exports and sales within the supply chain, and ultimately securing the long-term sustainability of the Sector in Scotland and the UK.”

OPEX ANNOUNCES NEW HEADQUARTERS TO ACCOMMODATE GROWTH

OPEX Group has announced a significant investment in a new headquarters in Aberdeen, Scotland, to support the organisation’s ambitious growth plans and enable closer collaboration with customers.

With a relocation date set during Q2 2019, the 10,000 square foot facility, located on Carden Place in the West End of Aberdeen, will accommodate over 100 employees and house state-of-the-art digital infrastructure.

“This is an exciting time for OPEX and marks a significant milestone for the company,” explains CEO Jamie Bennett. “OPEX are setting the industry standard for digitally enabled operations across the UKCS, helping oil and gas operators to reduce lifting costs by extracting more value from their data.

“These new headquarters are part of our continual investment in our capabilities and will allow us to respond to the demand from both new customers and existing customers who are now scaling the X-PAS™ service across their offshore operations.”

New Headquarters for OPEX Group

OPEX SIGNS MULTI-ASSET CONTRACT WITH NEW CUSTOMER

As OPEX continues to grow we are delighted to announce that we have entered into a multi-asset contract with another new customer in the UKCS. Under the agreement, our X-PAS™ Smart Production service will be rolled out to production critical systems across the customer’s legacy assets.

Over the next four weeks our data scientists will work with the operator’s existing operational data to build a number of predictive models to allow our team to accurately predict the future performance and behaviour of the selected systems.

Data analysis will begin during October when the X-PAS™ team will work alongside the operator’s on and offshore teams on a continuous basis to help them make the right interventions at the right time to avoid system trips and production losses.

Find out more about the X-PAS™ Smart Production service HERE.

OPEX multi-asset contract

£1.5BN UKCS SAVINGS AVAILABLE ACCORDING TO OGA/OGTC

An oil and gas industry study has found that adopting data analytics and digital technologies for asset maintenance and operations could deliver savings of £1.5 billion annually to the UK Continental Shelf (UKCS) through increased production and lower maintenance costs.

£1.5bn UKCS savings available through data analytics and digital technology

The joint study was carried out by the UK oil and gas industry’s Technology Leadership Board, the Oil & Gas Technology Centre and the Oil and Gas Authority (OGA).

According to the new study, the failure of offshore equipment, such as gas compression, oil export, power and water injection systems, resulted in lost production of around 110 million barrels of oil equivalent in the North Sea in 2017.

The study investigated how data from topsides production and operations equipment is currently being used and can help sustainably improve production efficiency and maintenance planning, reducing operational costs.

The report concluded that adopting data analytics and digital technologies across the basin could deliver a 25% improvement in the reliability of critical equipment and systems and a 15-20% reduction in overall maintenance spend, resulting in an estimated £1.5 billion of value to the UKCS per year.

The full report can be downloaded HERE.

OPEX SHORTLISTED FOR GLOBAL INNOVATION AWARD

We are delighted to announce that our X-PAS™ Predictive Analysis Service has been shortlisted as a finalist in the Innovative Technology category at this year’s Energy Institute Awards.

The EI Awards showcase organisations, projects and individuals of excellence in the energy sector. More than 120 entries were submitted from 29 countries across the globe, and we look forward to attending the awards ceremony alongside a number of our customers who are finalists in other categories.

Energy

The awards ceremony will take place in London on 22nd November 2018.  You can find out more about the EI awards here.

MEET THE X-PAS™ TEAM AT ENGENIOUS

OPEX will be attending the first ever ENGenious exhibition in Aberdeen in September to showcase our range of X-PAS™ predictive analysis services.

  • Tuesday 4th-Thursday 6th September 2018

  • Aberdeen Exhibition and Conference Centre

  • OPEX Group - Stand B40

ENGenious Web Image.jpg

The event, which is hosted by the organisers of Offshore Europe, focuses on cutting edge technologies that will help oil and gas businesses thrive in a changing digital landscape. 

You can attend the exhibition for free by registering on the ENGenious website here.

Jill Tough, VP of Marketing, explains more about the event; "ENGenious is all about innovation and digital transformation so it was an easy decision for us to take part.

"Our team will be on hand to showcase our range of X-PAS™ predictive analysis services and discuss how we are helping our customers to do even more with their data. 

"We will also be launching our brand new X-PAS™ Smart Behaviours service which combines data science, predictive technology and psychology to improve offshore safety."

We hope to meet you at the event!

IMPROVING OFFSHORE SAFETY BY MANAGING HUMAN RISK

We are delighted to be working alongside Premier Oil and the Oil & Gas Technology Centre (OGTC) on a ground-breaking new project to address a key challenge facing our industry; how to identify, measure and manage the risks posed by human behaviours to impact safe and predictable offshore operations.

The project, which is one of the first to be awarded by the OGTC’s Digital Solutions Centre, will focus on combining predictive technology and data science with psychology to map an organisation’s ‘behavioural DNA’. 

OPEX data scientist reviews smart behaviour analysis

By working with leading behavioural psychologists, we have devised a new diagnostic service that provides key insights into the behavioural profile of individuals; helping organisations to gain a clear picture of the levels of behavioural risk across their workforce and operations.

Jamie Bennett, CEO of OPEX Group, explains more about the project; “Despite decades of training programmes, tightening of procedures and investment in safety cultures, the task of proactively managing human risk remains one of the greatest challenges facing the oil and gas industry today.  Research shows that human errors contribute to as many as 90% of incidents.

“Current approaches to understand safety behaviours rely on surveys that give us an insight into what employees think and feel.  The piece of the puzzle that is missing - a blindspot - is an understanding of how these individuals are going to act and behave - and the impact those behaviours will have on offshore operations.

“Through this project we will use predictive technologies and data science to analyse behavioural insights gained from core crews and correlate it to vast amounts of historic incident data from Premier’s offshore assets. 

“Our aim is to work alongside Premier to greatly strengthen the safety and predictability of their offshore operations in what has previously been a difficult area to quantify in the oil and gas industry.”

Stephen Ashley, Digital Transformation Solution Centre Manager for the Oil & Gas Technology Centre, said: “Advances in digital technology present a significant opportunity to improve the safety of operations offshore.

"We’ve seen predictive analytics and data science deliver improvements in production and efficiency, and we want to achieve even greater gains for safety. We look forward to working with OPEX and Premier on this exciting project.”