HOUSTON & REDWOOD CITY, Calif.--(BUSINESS WIRE)--Baker Hughes (NYSE:BKR) and C3.ai today announced the launch of BHC3 Production Optimization™, an AI-based application that allows well operators to view real-time production data, better project future production, and help optimize operations for improved oil and gas production rates. The application is the latest addition to the growing portfolio of BHC3 artificial intelligence (AI) applications.
Launched at the Baker Hughes Annual Meeting 2020, the application is now generally available to oil and gas customers globally. The application continuously uses machine learning algorithms to quickly aggregate historical and real-time data across production operations and creates a comprehensive view of production from individual and multiple wells to the pipeline, distribution, and point-of-sale. BHC3 Production Optimization then applies machine learning to the data for anomaly detection, production forecasting, and prescriptive actions that improve production performance.
“BHC3 Production Optimization delivers the data visibility and optimization capabilities that are critical for upstream businesses to meet production targets during a time of growing energy demand,” said Derek Mathieson, Chief Marketing and Technology Officer, Baker Hughes. “Releasing this application is part of a continued commitment from Baker Hughes and C3.ai to help the energy industry improve productivity and efficiency with enterprise-scale AI applications.”
BHC3 Production Optimization enables more precise and timely decision-making to optimize the right level of production to meet business goals and energy demand. Advanced machine learning models create a continuous, near real-time and accurate virtual representation of production operations by generating flow rate, pressure and temperature predictions of hydrocarbon production and flow across wells, pipelines, and network assets.
Additionally, the application uses a hybrid approach that draws on physics-based and data-driven AI models to generate predictions and prescribed actions that are accurate and easier to interpret. For example, engineers can now pinpoint exactly which injection wells to tune for higher production output.
“The energy industry is at an inflection point where companies globally are being challenged to make operations more efficient, safer, and more productive,” said Ed Abbo, president and CTO, C3.ai. “To do this, they will need to harness and analyze massive amounts of data for actionable insights. Implementing this task at scale is not trivial; there is no other solution in the market that gathers data onto a single platform, analyzes that data in near real time by applying advanced AI algorithms, and generates interpretable and actionable insights. Baker Hughes and C3.ai are bringing to market game-changing applications on the proven BHC3 AI Suite that accelerate time to value for oil and gas customers globally.”
BHC3 Production Optimization is the second AI software application developed out of the Baker Hughes and C3.ai strategic relationship announced in June 2019. For more information regarding the BHC3 relationship and product offerings, please visit BakerHughesC3.ai.
About Baker Hughes
Baker Hughes (NYSE: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and with operations in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.
About C3.ai
C3.ai is a leading AI software provider for accelerating digital transformation. C3.ai delivers the C3 AI Suite for developing, deploying, and operating large-scale AI, predictive analytics, and IoT applications in addition to an increasingly broad portfolio of turn-key AI applications. The core of the C3.ai offering is a revolutionary, model-driven AI architecture that dramatically enhances data science and application development. Learn more at: www.c3.ai.
