A white paper issued by Siemens
Authors: Morten Ileby, Aker BP; and Edmund Knutsen, Siemens
As the world’s oil and gas industry strives to expand margins by reducing production costs wherever possible, ad- vanced capabilities enabled by the integration and digitalization of upstream operations can help in substantial ways. One prime example is remote condition monitoring (CM) of well-site equipment, especially offshore.
CM is the data-driven process of tracking performance parameters of equipment. The data are then used to identify any changes from baseline performance benchmarks that could indicate a developing fault in that equipment or their components, such as motors, drives, pumps, gearboxes, rotating shafts and tables.
Siemens AG (Berlin and Munich) is a global technology powerhouse that has stood for engineering excellence, innovation, quality, reliability and internationality for 170 years. The company is active around the globe, focusing on the areas of electrification, automation and digitalization. One of the world’s largest producers of energy-efficient, resource-saving technologies, Siemens is a leading supplier of efficient power generation and power transmission solutions and a pioneer in infrastructure solutions as well as automation, drive and software solutions for industry. With its publicly listed subsidiary Siemens Healthineers AG, the company is also a leading provider of medical imaging equipment – such as computed tomography and magnetic resonance imaging systems – and a leader in laboratory diagnostics as well as clinical IT. In fiscal 2017, which ended on September 30, 2017, Siemens generated revenue of €83.0 billion and net income of €6.2 billion. At the end of September 2017, the company had around 377,000 employees worldwide. Further information is available on the Internet at www.siemens.com.