November 22, 2018 / Views

CypherCrescent Participates at SPE Port Harcourt Section 103 Monthly Technical Meeting

CypherCrescent Participates at SPE Port Harcourt Section 103 Monthly Technical Meeting
SPE Port Harcourt Section 103 monthly technical meeting was held at Total E&P Nigeria Limited on November 14,2018. The theme of the event was focused on the application of advanced WRFM analytics to improve asset performance.

The lead speaker for the event, the Technical Director /CEO of CypherCrescent, Mr. ThankGod Egbe, a vastly experienced oil & gas industry professional, expounded further on the topic of the day — Application of Advanced WRFM Analytics in Asset Performance Optimisation.

He kicked started the presentation by asking three (3) crucial questions to engage the minds of the audience thus:
  1. Do you know where all the data required for your asset performance reviews are domiciled?
  2. Can you carry out your asset performance review tasks from any location?
  3. Have you moved beyond spreadsheet applications in asset performance reviews?
The objective of the presentation was to enable the audience to understand how organisations can leverage advanced WRFM analytics and their data to optimise the value of their assets (well, reservoir &facility).

Mr. ThankGod Egbe stated that many tools and approaches to asset malmanagement employed in many companies today deny them of the opportunities to harness the potential values from their existing assets. He stressed that enormous opportunities are hidden in the big data companies churn out on daily basis in the course of their asset management and analyses.
He went further to express concern from his observation that while other industries have since embraced the concepts of digitalisation and analytics to improve their operational efficiency, the oil & gas sector is yet to take full advantage of these advances. He cited an example on the use of OCR (optical character recognition) technology in some advanced countries to improve the efficiency of their car parking/ticketing system.

Also, he quoted the MD of PDO, Mr. Raoul Restucci, who affirmed that some of their assets now perform better than they did thirty years ago due to improved WRFM practices.

He encouraged companies and industry experts to embrace WRFM best practices and leverage digitalisation and analytics as they stand to achieve significant time savings, enhanced production, improved asset integrity and huge cost savings despite the initial setup cost.
Mr. ThankGod Egbe pointed out that there are critical prerequisites for an effective digital transformation of the WRFM ecosystem to enable all stakeholders realise the immense benefits thereof.

He summarised the critical prerequisites for WRFM digital transformation as provided below:
Digitisation- converting of information from a physical format to a digitised format, e.g., well schematics, petrophysical logs, geological contour surfaces, etc.
  1. Integration- collating data from disparate sources into meaningful and valuable information
  2. Data Democratisation – making the right data available to the right people at the right time
  3. Analytics – using of mathematical, statistical and programming tools to analyse your data to gain meaningful significant insights.
Mr. ThankGod buttressed that application of digitalisation and advanced WRFM analytics is an imperative due to growing challenges faced by engineers and companies in the course of their asset performance tasks.

Such challenges are prominent when a task involves integrating and interpreting complex and large data sets which could be domiciled in different silos and in incompatible formats.  Digitalisation and data analytics can solve these challenges effectively.

To operationalise WRFM in an organisation, the underlisted key enablers of an effective WRFM digital transformation should be in place:
  1. Organisational Support
  2. People
  3. Process
  4. Technology
To support his encouragement for adoption of advanced WRFM analytics in asset reviews, Mr. ThankGod shared his experience through a case study, where CypherCrescent used  SEPAL, a WRFM enterprise curation and collaboration tool software to carry out an asset review consulting activity for a client: The objective of the case study was to identify candidate wells for water shut-off, review perforation extension scope and gains.

The case study showed how digitisation, integration of interpretations from the different WRFM disciplines, democratisation, and operationalisation of WRFM analytics was used to carry out a robust and efficient review to identify candidates for perforation extension and achieve the set objectives. This was contrasted with the resources it would take to carry out the same process without digitalisation.

To wrap up the presentation, questions & answers session, and awards of gifts was entertained from industry players.

The event ended with closing remarks from the ED of Total Nigeria PLC, Mr Victor Bandele and special guest of honour, Prof Adewale Dosunmu with emphasis on the need for the oil & gas industry to embrace technologies with proven capacity to improve efficiency.