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Schneider Electric has announced a collaborative project with Landmark, a Halliburton business line that provides integrated E&P software. Improved asset performance, simplified decision-making and enhanced operational intelligence are among first findings of the project.
The ongoing project aims to provide transparency to E&P decision makers—from oil field to boardroom—with a real-time, integrated view of their business’ performance.
For E&P companies, performance is correlated with detailed technical, operational, and economic knowledge of the assets in their portfolios. Schneider Electric is coming together with Landmark to connect Schneider Electric's IoT-enabled open and interoperable system architecture and platform EcoStruxure with Landmark DecisionSpace, allowing companies to build a real-time digital representation of individual assets and the overall portfolio.
Together, Landmark and Schneider Electric are delivering integrated and commercially impactful workflows designed for E&P lifecycle management.
The joint work extends to various aspects of upstream operations, including operations management, production surveillance, and production automation.
According to the partners, initial findings of the project point to a number of benefits, including, enhanced reservoir insight; improved asset performance; simplified decision-making; and improved well integrity.
Schneider Electric believes strongly in the power of the IIoT and its power to bring innovation to every level of the Oil & Gas industry, from field to enterprise level, the company says. This collaboration with Landmark is indicative of Schneider Electric’s commitment to developing new, connected solutions together with customers, it adds.
Keywords: E&P Software, Asset Performance, Decision-Making, Operational Intelligence, IoT-Enabled, Lifecycle Management, ARC Advisory Group.