Top-4 oil producer decrease pump downtime

A Top-4 Oil & Gas producer was looking for a software solution that could capture real-time data from mission-critical oil pumps to improve reliability and ultimately, increase production. They could not scale their existing relational, condition-based monitoring systems cost-effectively to monitor thousands of electrical downhole pumps. The pumps are critical assets in the extraction of oil from reservoirs and any impact on performance will result in lost production and potential safety issues.

QiO Foresight Maintenance® was used to ingest over 19 million records, with 985 analytic models. 

IWith QiO Maintenance®, the client benefited in the following ways:

  • 4x improvement in data processing times
  • Reduced IT hosting costs by US $ 200 k
  • Improved uptime by 10%

Question

How can we detect possible equipment failures across thousands of down-hole pumps and reduce unplanned downtime?

Outcome

  • 4x improvement in data processing times
  • 45% reduction in IT cost
  • Averted an estimated $500,000 per hour per pump in revenue losses from unplanned downtime