Oilfield services company Recon Technology has secured several contracts from PetroChina Changqing Oilfield Company (PCOC) to develop four internet of things (IoT) oil and gas production projects in Shanxi Province, China.
The contracts are valued at a total of CNY6.1m ($0.9m) and related to three plants of PCOC.
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IoT involves capturing, analysing, and acting on data generated by networked objects and machines.
The projects are aimed at improving production efficiency through the use of smart sensors that perceive production data in the oil extraction and gathering, as well as transferring processes and detect errors in the process.
Recon Technology chairman and CEO Shenping Yin said: “Recon has supported PetroChina’s efforts for more than 15 years, and these new contracts represent Recon’s position within the field of electronic and intelligent engineering and creates a foundation for future cooperation on similar projects for PetroChina’s other sites.
“Our goal is to continue leveraging the strength of our technological capabilities to cultivate our relationship with PCOC and other project owners, which we anticipate will lead to further contracts in the coming months and years.”
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By GlobalDataThrough the IoT solution, Recon is expected to integrate sensors, communication devices and analytics in connection with the projects for PCOC’s plants.
The solution assists in providing production guidance by collecting the data on oil pressure, casing pressure, load, indicator diagram, three-phase current, voltage, active power, reactive power, power factor and wellhead real-time image during the production process of pumping units.
The collected data will be transferred to the backstage data centre for intelligent data analysis.
Work on the projects is scheduled to be completed by the end of the year.
