Oil and Gas industry is going through a paradigm shift. Low oil prices are expected to prevail in the future which will challenge the investment and expenditure capacity of E&P Operators. Thus Cost Control will be in sharp focus. Oil and Gas industry has some of the best technology levels when it comes to downhole equipment and associated surface equipment. However this industry has perpetually stayed away from implementing the next generation technology and platforms like Cloud based services, End to End integration, ToT, Artificial Intelligence or Machine Learning. In last few years, this has seen a dramatic change with operator companies opening up to such tech platforms and have already witnessed the optimization, safety, quality and cost savings these platforms can bring.
All Answers Reside in Technology.
•WellRx has taken the leap ahead and has already implemented Artificial Intelligence/Machine Learning to Design Optimization, Testing and Validation, Manufacturing Cost Optimization and Field Failure Reduction and is constantly evolving. The application of tech has delivered a significantly reduced product development cost, reduced manufacturing cost and substantial reduction of quality issues while manufacturing. In summary our in-house developed tech:
a. Expedites manufacturing.
b. Lowers cost.
c. Enhances quality.
•Cloud based platforms are being developed for:
a. Customer access to total information about the equipment and tools being supplied.
b. Automated updates on the status of the equipment and complete removal of manual intervention.