Challenge 2: Oil Yield Optimisation

A large oil company project manager is seeking to help to better manage the spreadsheet that he is using to maximise oil output from an oil field. He needs it to identify which wells are safe to be opened to what degree to maximise its output, keeping in mind that there are physical constraints that impact the safety of the workers – such as the amount of water and gas that can be accommodated at any single time at each site. The current he uses is limited in the number of wells it can handle simultaneously, while the numbers are slowly increasing. On top of this, he is hoping to develop a more user-friendly interface so he can share this with other engineers working on the project.

How we helped:

Numerix developed an alternative code using Excel and some additional tools to provide a simple front-end for engineers to use.


This application, which we are currently working on – is now nearing completion , improves the efficiency with a more user-friendly interface could provide millions of dollars of additional revenue once it is fully implemented.





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