The Software Transforms the Way Oil and Gas Companies Operate Upstream Assets
ALISO VIEJO, Calif., March 24, 2006 - IndX Software, a Siemens Company, today introduced a comprehensive Oil Field Management Intelligence Pack for its XHQ(TM) real-time performance management system. The Oil Field Management Intelligence Pack is a pre-packaged, role-based, upstream operations performance management system that provides proactive notification of current and emerging problems helping production supervisors and managers make better informed decisions about upstream assets and respond to situations in real-time. Siemens Oil Field Management Intelligence Pack is the result of incorporating the best practices and operating procedures from Oil Field Management Engineers and Operators at pacesetting oil fields around the world.
Asset and equipment operating envelopes (design and operating limits) are established for each well and are monitored in real-time. Operators and Field Engineers receive automatic notifications with links to summary and detail views. The solution combines business and real-time technical information from existing upstream systems into a comprehensive advisory system for production wells, metering stations, injection systems, environmental monitoring stations and gas oil separation plants. Engineers and technicians may easily customize pre-built displays for multi-phase flow meters, well tests, work orders and field production maps.
Energy management, sand management, corrosion monitoring, well-shut-in history, inner casing pressure monitoring, water management, and pump monitoring are included in the offering.
System Benefits:
- All technical personnel, engineers, supervisors and managers in an organization have instant access to technical information about the oil field production system from any PC at any company location.
- Trends and patterns in operational performance can be easily recognized and addressed by engineering and supervisory personnel; maintaining optimal production levels, increasing recoverable reserves and reducing well down time.
- Extensions are developed by petroleum engineers and technicians, not IT professionals.
- Any change in the field, planned or unplanned, can be monitored from any location.
- Value Proposition
- Increase oil recovered from a field 2 - 7 percent
- Reduce lifting costs by 10 - 25 percent
- Increase production rates by 2 - 4 percentBackgroundOil and Gas companies are aggressively seeking solutions to increase recoverable reserves and unlock new barrels of oil from their existing oil fields.
One of the keys to increased profitability is operating oil fields more efficiently, without damaging valuable assets or placing employees in harm's way.
Today, oil field operators are working harder than ever.
Oil fields are outfitted with many types of expensive computer monitoring equipment, but unfortunately, these systems do not talk to each other, and it is difficult for operators to get an accurate picture of how best to manage the overall well field assets.Frequently, operators unknowingly over-produce to increase yield, which results in the unintended consequence of reducing the life expectancy of the well.
Early well decommissioning costs far outweigh any gains achieved through over production.Further information can be found on the Internet at: www.indx.com
About Siemens
Siemens Energy & Automation Inc. is one of Siemens' operating companies in the U.S.
Headquartered in the Atlanta suburb of Alpharetta, Ga.
Siemens Energy & Automation manufactures and markets one of the world's broadest ranges of electrical and electronic products, systems and services to industrial and construction market customers.
Its technologies range from circuit protection and energy management systems to process control, industrial software and totally integrated automation solutions.
The company also has expertise in systems integration, technical services, and turnkey industrial systems.
For more information: www.sea.siemens.com .
Siemens AG (NYSE:SI) is one of the largest global electronics and engineering companies with reported worldwide sales of $96 billion in fiscal 2005.
Founded nearly 160 years ago, the company is a leader in the areas of Medical, Power, Automation and Control, Transportation, Information and Communications, Lighting, Building Technologies, Water Technologies and Services and Home Appliances.
With its U.S. corporate headquarters in New York City, Siemens in the USA has sales of $18.8 billion and employs 70,000 people throughout all 50 states and Puerto Rico.
Eleven of Siemens' worldwide businesses are based in the United States.
With its global headquarters in Munich, Siemens AG and its subsidiaries employ 460,000 people in 190 countries.
For more information on Siemens in the United States: www.usa.siemens.com .
