Energy Demand Prediction for Oil and Gas CompanyOil & Energy
For any industry, one of the primary factors impacting operating costs is energy. Energy requirement and type thermal or electrical depends on the industry type. For an oil and gas company, the majority of the demand is for thermal energyi.steam. It’s important for them to use it efficiently and target more recycling and reuse of steam as much as possible. To maximize efficiency, it’s crucial to conduct audits to assess energy consumption per unit process and overall, aiming to identify potential energy losses and operational inefficiencies. These practices help in planning energy demand, leading to optimized energy use, reduced wastage, and cost optimization.
The client, one of the largest integrated oil and gas companies in the world, was facing energy consumption issues with their upstream activities such as gas-oil separation, gas processing plants, seawater injection, etc., and wanted to predict their energy demand to optimize their energy usage and improve operational efficiency.
Challenges:
1. Determining the energy consumption and losses for upstream activities.
2. Identifying losses during the generation and transport of steam, as well as recycling used steam.
3. Fine-tuning the model based on observed process efficiency, equipment efficiency, various losses, and recycled steam.
The team followed the following approach to come up with a solution:
- Implemented a data pipeline.
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Developed a machine learning model with 96% prediction accuracy on energy demand.
- Solution delivered with a Dashboard to provide real-time updates
The delivered solution was an automated dashboard that helped client to plan their energy demand.
Key benefits:
Optimized energy production
Enhanced Decisioning
Reduced Energy waste