New book by Larry Connors Click here Improve your trading - See how
In a release, Research and Markets noted that report highlights include:
A burning question at the 2009 SPE Digital Energy Conference was, 'Is a digital energy strategy important in the low cycle?' 2009 is expected to be a hard year with 'questions as to where R&D fits-in.' Chevron CTO Melody Mayer believes that those who keep at it will come out ahead at the end of the recession. BP is a 'digital' believer, and reports an added 85,000 bbl/day of production coming from 'Field of the Future' programs - and these are 'cheaper than well work.'
A debate on the exact meaning of 'digital energy' failed to reach a conclusion although there is a consensus that the 'digital revolution,' whatever it is, is only beginning to happen. 'It's a long journey - and we are only starting.' Early 'philosophizing' - notably from CERA - had it that process control/automation was a 'commodity' technology. Not so according to Baker Hughes. It turns out that, four years after the CERA study, industry is 'only coming to terms with control systems theory - an essential preliminary to optimization.' For Baker Hughes, 'significant process enhancement is to come from combining sensor data with experts.' Today's sensors exist in a feedback loop.
The next step will be to leverage 'feed-forward' and control methodologies to improve reservoir drainage. Shell is in broad agreement. Just as the Drilling Support Center revolutionized drilling, the 'Central Surveillance Center2' (CSC) is revolutionizing production operations. Shell is moving surveillance from asset to CSC and leveraging 'exception-based processing.' This compares real-time observations with data-derived models to identify and flag unusual events requiring attention. Today the attention likely takes the form of a phone call or email to the operator, but the medium term goal is to 'close the loop' and automate. For repetitive tasks such as well test or gas lift optimization, Shell advocates a move from a periodic 'harvest' mode to continuous process improvement.
DEC09 marks a shift from proof of concept projects to 'at scale' deployment. This can involve extra effort such as language localization of in-house developed software. BP is also applying 'greenfield' learnings to retrofit its 'brownfield' sites, a process where Chevron noted some initial problems applying 21st Century technology to its 100 year old fields.
Several speakers engaged in a 'reverse auction' to evaluate the contribution of 'technology.' A consensus seemed to emerge that technology only contributed around 5 percent, the bulk of the effort going into people/process. ExxonMobil sees technology as competing for the same barrels as people/process.
Companies Mentioned:
- Dexa Systems
- BP
- Chevron
- Baker Hughes
- ExxonMobil
Report information:
http://www.researchandmarkets.com/research/6e670b/technology_watch_f
((Comments on this story may be sent to newsdesk@closeupmedia.com))
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback
The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302
© Copyright 2009 The Connors Group, Inc.
