PumpWELL – an artificial lift provider that Rigzone talked with earlier this year – has started its transformation into Ambyint, a provider of an Internet of Things (IoT) technology intended to optimize oilfield operations.
Earlier this month, the company began offering its new technology, which combines the Big Data technology found in its previous products, but combines this technology with predictive and prescriptive algorithms to allow customers to focus on understanding data better and creating actionable events, Nav Dhunay, CEO of PumpWELL, told Rigzone.
PumpWELL, which for the past eight years collected immense amounts of data from artificial lift, realized that pretty much every well can benefit from optimization, but the challenge was that existing solutions for optimization were complex, involving massive SCADA infrastructure or IT infrastructure. With Ambyint, the company sought to make a simple, inexpensive solution.
Operators can install the out-of-box solution on any oil well, such as a pumpjack; information gathered from the placed sensors is analyzed by Ambyint’s Big Data engine and the pumpjack is then autonomously controlled and adjusted in real-time to maintain its maximum effectiveness and efficiency, according to a company statement.
Ambyint’s automation component is primarily based on machine engine learning technology – developed by the company’s engineers over the past year and a half – to look for patterns in data and see if problems can be solved based on information gleaned from those patterns.
“It’s very much how you and I would approach problem solving,” Dhunay said.
The machine learning piece is intended to minimize the human labor involved in maintaining wells – instead of visiting a well everyday, workers might only have to visit every three days or week or once a month, said Dhunay.
The new product also has a mobile application to make managing wells less time-consuming.
“We wanted to integrate this entire system with how we work today,” Dhunay said. “Pretty much everybody has a smart phone in their hands, so we focused on a mobile platform that allows a user to adjust well parameters when they’re in their office or at the breakfast table.”
Ambyint will initially be a wholly owned subsidiary of the PumpWELL before becoming an independent firm. The PumpWELL brand will still exist at least through the end of 2015, Dhunay said.
– See more at: http://www.rigzone.com/news/oil_gas/a/139988/PumpWELL_Transforming_Identity_with_Launch_of_New_IoT_Technology#sthash.oP63B7jz.dpuf