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OIL PRODUCTION JUMPS WITH ABB MONITORING TECHNOLOGY
02 July 2006 - ABB Automation Technologies
| ABB Norway has acquired unique monitoring technology that lets oil companies calculate wear and tear on production equipment caused by sand in the oil, which can increase the value of production in a single field by hundreds of millions of dollars annually. |
With the February purchase of the condition monitoring department of the oil and gas consultancy, Production Technology Integrated AS, ABB Norway acquired new oil field software technology called Insight and SandView, in addition to three new employees. Daily production increases by 30,000 barrels
The technology is currently installed in the Gullfaks and Statfjord fields in the North Sea, where it has increased production by more than 30,000 barrels a day. With the price of oil currently hovering at around $60 a barrel, that production is worth some $1.8 million per day, or nearly $600 million annually. "With this important addition to ABB's oil and gas portfolio, we will continue to develop the software and services that optimize production, operation and maintenance for our oil and gas customers," said ABB Norway Vice president, Rune Finne. Calculates equipment wear and tear
ABB's new technology calculates wear and tear on process equipment caused by sand in the oil and gas coming from production wells, optimizing production, reducing attrition and increasing safety.
New ABB software calculates wear and tear on process equipment (like the valve at LEFT) caused by sand in the oil and gas coming from production wells, such as the Troll C platform in the North Sea (RIGHT). Pipelines, manifolds and valves that connect the production wells with separators on the platform are exposed if oil or gas from the reservoir contains sand. "This technology fits well into the existing range of ABB optimization systems for enhanced oil and gas production," Finne added. "It also shows that tailor-made software systems can simultaneously increase production, reduce maintenance and enhance installation safety."
http://www.abb.com
About: ABB Automation Technologies
ABB is a leader in power and automation technologies that enable utility and industry customers to improve performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs around 105,000 people.
ABB has streamlined its divisional structure to focus on two core businesses: Power Technologies and Automation Technologies. The Oil, Gas and Petrochemicals division is slated for divestment. ABB Power Technologies serves electric, gas and water utilities as well as industrial and commercial customers, with a broad range of products, systems and services for power transmission, distribution and automation. ABB Automation Technologies blends a robust product and service portfolio with end-user expertise and global presence to deliver solutions for control, motion, protection, and plant integration across the full range of process and utility industries. In addition to ABB's automation activities directed at the oil and gas industries, ABB Lummus Global continues to design and supply production facilities, refineries and petrochemical plants. ABB's former Upstream business, divested in July 2004, is now part of Vetco International (www.vetco.com). |
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