TAQA optimized oil and gas production due to scenario planning

TAQA, the national energy company of Abu Dhabi, optimized oil and gas production due to scenario planning taking into account the prices and costs and also the forecast of a hardware failure under certain conditions

Problem: TAQA needed to plan operating activities taking into account variability of production. The business and analytical solution including an opportunity to model operating activities at the level of the region, the field and the well was necessary.

Solution: On the basis of all available data sources (sensors, text magazines of reports on service, conditional monitoring) the company constructed forecast models in PMQ for forecasting of failure probability in any future timepoint for each group of the equipment. Accumulation of historical data will allow to gain the maximum effect of the created models and to increase their accuracy.