AN ABERDEEN-based provider of data science and predictive analysis services, OPEX Group, has secured a contract for digital services with Chrysaor, the UK’s leading independent E&P company.
The contract announcement follows a successful field trial that OPEX Group started last year, which saw their Predictive Analysis Service applied to the gas compression systems on Chrysaor’s Lomond EPM and Armada platforms.
On 27 occasions during the trial, OPEX helped Chrysaor to anticipate and take action to remedy conditions which may otherwise have led to gas compression system trips, minimising production loss and cutting maintenance costs.
Chrysaor has now extended the contract with OPEX Group throughout 2020 and are also working with the company to apply data science to other challenges within the business.
OPEX’s service, which combines the expertise of data scientists with the experience of oil and gas engineers, helps operating companies use their existing data to predict operational threats, improve performance and solve complex problems.
Chris Ayres, COO of OPEX Group said: “Offering Chrysaor additional intelligence about the behaviour and performance of their systems, provides them with the information they need to avoid production losses, boost efficiency and cut maintenance costs.”
“It is widely understood in the industry that reactive maintenance costs are significant. A single trip can cost operators millions in lost production. So, an insight to prevent this and maximise production is of huge value and something we’re delighted to be helping our customers with.”
OPEX’s X-PAS™ Predictive Analysis Service won the Oil & Gas UK Award for Business Innovation and was shortlisted as a finalist in the global Energy Institute Awards.