The volatility of the price of crude oil in recent years has forced Oil & Gas companies (mainly in the Exploration and Production area) to drastically improve their efficiency and reduce their costs. On the other hand, the management of multiple reservoirs and thousands of wells in this area makes it very difficult to quickly diagnose and make correct decisions to optimize production and safety. In this context, there is a great need for tools and processes that allow to capture, communicate, analyze and use information, in real time, to make a quick and accurate diagnosis of problems, design solutions and make the best decisions, to increase efficiency, improve safety and reduce operating costs.
To give a real response to the challenges / opportunities identified, the SmartO & G consortium has been created, whose priority objective will be focused on the “Development of Intelligent Modular Solutions for the Oil & Gas Upstream sector” that will allow the improvement and consolidation of the technological and commercial positioning of Basque companies in the sector and take a competitive leap through the offer of high-performance products with high added value.
