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Published on 22/04/2020 5:08:34 PM | Source: IANS

Zyfra launches automated oil output planning solution

Posted in Commodities| #Russia #Oil and Gas Sector #Industry # Zyfra

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Finnish-Russian digital solutions provider Zyfra has said it has developed a solution for automated planning of production scheduling, logistics and service processes in the oil and gas sector.

The announcement comes at a time when global oil prices have declined to historic lows.

According to a Zyfra statement, a production and shipping planning (PSP) includes a plan for production, shipment, warehouse and procurement, as well as operations and maintenance planning,

Besides, in context of the ongoing coronavirus pandemic and its potential consequences on the oil and gas supply chain, the solution builds a complete digital twin of the planning process, the statement said.

"The solution is built using micro-service architecture. It allows different deployment configurations - on premises, cloud and hybrid. Cloud and hybrid deployment options are preferable when simulation and optimization are computation intensive," it said.

"Machine learning could leverage existing data to create finer and more precise business models. It could predict profits and losses in detail. This prediction happens in a timely manner up to real-time. So, the traditional 'produce at all costs' model could be altered or replaced by a 'produce in context' model," it added.

Zyfra MD, Pavel Rastopshin said: "This shift will allow energy companies in India to be more flexible and able to deal with low oil or gas prices."

"Oil companies can consider key task dependencies, priorities and constraints for decision-making. Then, a machine learning model chooses an optimal scenario for the current situation. About 50 scenarios are assessed to choose one," he added.

According to International Energy Agency (IAE) projections, as demand plummets, the entire supply chain of oil refining, freight, and storage is starting to seize up, making it increasingly difficult to push new supply into the system.