Honeywell Helps Ithaca Energy Monitor Operational Performance of Key North Sea Oilfield
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Well Performance Monitor Being Deployed to Athena Field to Promote Safe, Reliable and Efficient Operations
ABERDEEN, Scotland, United Kingdom - Honeywell (NYSE:HON) today announced that Ithaca Energy (UK) Ltd ("Ithaca Energy") has selected its digitally enabled Well Performance Monitor (WPM) from the Advanced Solutions business of Honeywell Process Solutions (HPS) to manage the operational performance of its new Athena oilfield in the North Sea. The agreement illustrates the growing adoption of digital oil field management technology among the leaders in global oil and gas operators.
The Athena Field - which is expected to produce approximately 22,000 barrels of oil per day when it comes into production - is a joint venture between Ithaca Energy, Dyas UK, EWE and Zeus Petroleum. Ithaca Energy is the operator of the project.
HPS' WPM, powered by Matrikon, will be used to monitor as well as optimize production from the new field while maintaining the safety and integrity of its operations.
"Honeywell's Well Performance Monitor matched our requirements perfectly," said Marco Peña, operations petroleum engineer at Ithaca Energy. "It was cost effective and easy to implement - literally out of the box. But the real value is in what it delivers: allowing us to have the system up and running before the facility is operational is a huge plus, as is giving us access to real-time information, to pinpoint underperforming wells and, last but not least, help improve collaboration throughout the team."
Using WPM, Ithaca Energy's engineers can monitor how their wells are performing compared to their expectations, while visual models will predict what each well is capable of producing. The solution extracts summary information and key performance indicators from real-time process data historians, production databases and engineering well models, allowing operators to visualize field performance data and manage equipment assets. Engineers can see where the shortfalls in production are occurring and take immediate steps to correct them, and so maximize the production potential of each well. WPM will also help personnel to manage the costs of surveillance, identify abnormal situations quickly and react faster to disturbances.
"Ithaca Energy is a rapidly expanding North Sea operator, and the Athena field is an important asset in its growing portfolio," said Joel Chacon, Solution Consultant with HPS' Advanced Solutions business. "Production processes at the site must be top-notch while the safety, reliability and efficiency of people and assets are paramount. As we have done for other WPM users, we can help Ithaca Energy spend less time gathering data and more time ensuring they meet their operational objectives."
Ithaca Energy will be served by the Aberdeen-based Advanced Solutions support team of HPS, which is closely involved in the development of WPM.
Honeywell International (www.honeywell.com) is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; and specialty materials. Based in Morris Township, N.J., Honeywell's shares are traded on the New York, London, and Chicago Stock Exchanges. For more news and information on Honeywell, please visit www.honeywellnow.com. Honeywell Process Solutions is part of Honeywell's Automation and Control Solutions group, a global leader in providing product and service solutions that improve efficiency and profitability, support regulatory compliance, and maintain safe, comfortable environments in homes, buildings and industry. For more information about Process Solutions, access honeywellprocess.com.
Contacts:
Brian Chapman
602-293-1257
brian.chapman@honeywell.com
Andres Ybarra
952-346-6314
aybarra@webershandwick.com
