HOUSTON, May 9, 2017 – Weatherford International plc announced the commercial release of the ForeSite production optimization platform today at the Weatherford Enterprise Software Conference. The ForeSite platform combines physics-based models with advanced data analytics to improve performance across wells, reservoirs and surface facilities.
This release is the first in a series of integrated software offerings that will combine proven Weatherford production optimization technologies with the Internet of Things, cloud computing and advanced analytics to enable complete asset management. The ForeSite platform is initially focused on improving the management of wells with rod-lift systems and will later extend to all forms of lift, as well as management and optimization at the reservoir and surface-facility levels.
“We are entering a new era of automation and digitization in the oil and gas industry,” said Oscar Rivera, Vice President of Reservoir Solutions at Weatherford. “By harnessing data from every corner of the asset, the ForeSite platform enhances visibility and predictability — empowering operators to make better asset-management decisions that maximize production while reducing cost per barrel.”
Weatherford is one of the largest multinational oilfield service companies providing innovative solutions, technology and services to the oil and gas industry. The Company operates in over 90 countries and has a network of approximately 880 locations, including manufacturing, service, research and development, and training facilities and employs approximately 29,500 people. For more information, visit www.weatherford.com and connect with Weatherford on LinkedIn, Facebook, Twitter and YouTube.