iQx TIME Helps Operators Achieve Greater Operational Efficiencies
Collaboration between AGR and Lundin Norway sees new iQx™ functionality released.
AGR's software team has expanded its iQx™ functionalities to help operators increase efficiencies throughout their planning and drilling projects.
The release of the new TIME module in iQx™ allows companies to benchmark time spent on historical activity against current operations – allowing them to identify opportunities to improve work rates and standardisation, reduce risk and retain quality of data captured during the operations.
The technology has been developed as part of collaboration between AGR’s software engineers and Lundin Norway’s drilling department.
The application complements iQx™ GEO module that was launched earlier this year
- it provides geologists and petrophysicists with a wealth of high quality operational geological data.
Petter Mathisen, AGR’s Vice President of Software Solutions, comments: “In the current climate there’s a clear need for companies to improve operational efficiencies across the board. The TIME module allows users to analyse historical data across a variety of activities, drilling units and compare results against live activity.
iQx™ TIME enables a large spectrum of users from management level to technical teams to create value from high volumes of data, by focusing on operational performance.”
COMPARING CURRENT AND HISTORICAL OPERATIONAL DATA TO LOCATE INEFFICIENCIES
The software upgrade has been developed in response to feedback and requests from AGR software end users in the upstream industry. AGR has been focussing on developing data management software that gathers data from a range of different sources and standardises these in iQx™ to ensure data analysis is easy to manage and compare.
The TIME application helps users to visualise huge amounts of activity data and enables automated and continuous quality assurance of these. Activity data can be grouped in overall Key Performance Indicators (KPIs) to suit the company’s different user levels with functionality to drill down to the lowest level of details.
Mathisen adds: “The focus of AGR’s software division has been on developing a solution for the industry that could improve detailed understanding of operational activity.
The functionality opens the opportunity to map the indicators for improving efficiency of relevant wells and monitor activity trends over a longer period of time.The simplicity of iQx™ lies in its development whereby data is automatically transferred into the platform from any data reporting system guaranteeing that the data is always the most recent and updated. This enables the end user to focus on improving the quality of reporting systems and meet faster decisions not compromising on HSEQ.”
If you would like to book a free demo of our iQx software, please get in touch with the AGR Software team
More information about iQx can be found here