NEO smart well system includes electric flow control valves, pressure and temperature sensors and AI software, enabling to cut off highly watered reservoir zones and increase the oil and gas production.
NEO system enables to open and close downhole electric valves remotely without need for a RIG, monitoring the production in real time.
Using the NEO electric valve in high-rate gas condensate wells, Operators put the well on production earlier, earning $1M for each day saved.
We save up to $400k at each opening and closing valve operation for the remotely located wells - no need to go to the well site
NEO includes pressure and temperature sensors for online control over the reservoir production.
Standard valves are opened and closed manually by work crews
Each valve opening and closing costs ~ $300k of direct costs
The works last ~ 3-5 days. One-day downtime leads to loss of 1-2 million cubic meters of gas > $1M
It is required to install pressure and temperature sensors separately
Globally, all «simple» fields with powerful homogeneous formations, having been operated for years with use of inexpensive vertical wells, have already been developed.
All new fields have a complex structure: a thin oil formation, a large gas cap of gas on top and water underneath. Therefore, it is necessary to drill expensive horizontal wells.
Water and gas breakthroughs often results in a well, worth more than 100 million rubles, becomes unprofitable after a month.
In general, new fields have low profitability and become unprofitable at low oil prices. One of the best solutions to the problem is «smart» wells and IIoT.
EFFICIENTLY, RELIABLE, PROFITABLE