900 New Oil Wells by 2020? Industrial Internet and Innovation Can Help
Kuwait is working to boost oil production by nearly 25% to 4 million barrels per day by 2020. On the ground — or rather under the ground — that means drilling as many as 900 wells as part of the $4-billion first phase of the Lower Fars Heavy Crude project, which was awarded in January.
Achieving this production goal also involves other projects and technologies, such as enhancing crude oil recovery from existing wells.
In Kuwait, and across the global oil and gas sector, the focus for upstream and downstream operators is managing costs and increasing production. There are many ways to implement this focus, but four are particularly impactful: improving oil and gas field decision-making, managing project costs, training local oil and gas engineers and operators, and implementing state-of-the-art technologies and innovations.
For GE Oil & Gas — which has supported Kuwait’s oil and gas sector for years — all of these are central to how it serves its customers. The company supports its customers in areas such as enhanced decision-making through the use of Industrial Internet software and solutions, and costs rationalization through standardization in areas such as subsea and turbomachinery.
Innovative, customized customer-driven solutions are possible through the GE Store, which leverages the company’s enormous cross-industry expertise to bring the right technologies and solutions to customers’ biggest challenges.
GE is sharing its field and engineering expertise, and presenting its equipment, technologies and solutions at the Kuwait Oil and Gas Show 2015, running this week. At its stand in Hall 6, GE Oil & Gas will host a half-dozen technical presentations on topics such as Industrial Internet, Intelligent Pipeline and Unified Operations and Mudline Suspension Systems.
The stand features GE solutions in areas such as Subsea, Drilling, Downstream, Turbomachinery, and Measurement & Control. Among the Industrial Internet solutions on show are the Safire Multiphase Flow Meter with Unified Customer Portal for optimized production, improved customer revenue and staged development.
Also being highlighted is GE’s Predix software platform that has wide-ranging potential for oil and gas asset management throughout the use of Big Data to respond quickly and proactively to issues, better prioritize repairs, minimize downtime and maximize profitability.
GE has supported Kuwait’s development in the oil and gas sector, most recently by undertaking the maintenance planning and productivity maximization of six advanced gas turbines and centrifugal compressors for the Kuwait Oil Company and the launch of the Competency Development Training program for KOC professionals. GE has supported Kuwait’s development in oil and gas, as well as power and water, infrastructure, healthcare and transportation, for more than four decades.