Kuwait Oil Company (KOC) has created a fully integrated management system with IBM’s Maximo as the backbone for enhanced oil production
Currently, KOC produces 2.85mn bpd and the state-owned company said that it is striving to achieve a production of four million bpd by 2020 and maintaining that to 2030. KOC also aims to have the capability of four billion gallons of gas by 2030.
According to deputy managing director for gas at KOC Mohammed Husain, there are several challenges to reaching the target, first being reproducing hydrocarbons from the ground. “The second is resource management and the most important is to integrate the solutions within the organisation. The IBM solution has made it easier to analyse data to make the proper decisions.”
Maximo for Oil and Gas is a complete enterprise asset management solution that helps manage production equipment, facilities, transportation and infrastructure assets on a single, integrated platform. It helps organizations improve safety, reliability and compliance performance. It does this while reducing costs through standardisation, convergence, collaboration and the adoption of better operational practices.
The solution helps improve the productivity and efficiency of critical assets; manage each asset’s life cycle including acquisition, work management, inventory control, purchasing and preventive maintenance; specifically address the specialised industry concerns such as failure codes, asset specifications, location details, prioritization matrix, regulatory compliance and condition for work; help reduce cost and facilitate and automate common processes; and easily integrate into most existing business systems, because it is built on J2EE component-based Internet architecture.
It also helps managers to improve asset analysis; facilitate compliance efforts; plan shutdowns, instill integrity management; reduce manual intervention; respond to complex supply chain demands; align roles and responsibilities; facilitate continuous improvement; standardise and sharing data; improve organisational learning; and address health, safety and environment needs.
Husain added that IBM has better understanding to analyse the data produced by the company, which can help KOC make better decisions.
“With partner like IBM, I think it will be possible for KOC to achieve the target as the solutions are implementable,” the KOC executive noted.
