Oleum Technology: Optimizing Production of Oil Wells
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Oleum Technology: Optimizing Production of Oil Wells

Edward Schumacher-Matos, Managing Partner and CEO, Oleum TechnologyEdward Schumacher-Matos, Managing Partner and CEO
Colombia’s EcoPetrol came to Oleum Technology with a problem on its Casabe Sur wells. Casabe Sur 03 in particular suffered from gasification and losses of production due to the overheating and subsequent shutdown of the pump. EcoPetrol dangerously flared gas close to the wellhead in their effort to manage 03’s gasification. Oleum installed its System of Integrated Production (SIP) that uses artificial intelligence to manipulate annular gas pressure from the wellhead. Within hours, Oleum permanently shut off the flare and eliminated 03’s gasification problem. At the end of the two-month trial, crude production was up by 20.5 percent and gas emissions were completely eliminated.

Oleum repeated similar results in tests on other wells for EcoPetrol and Pemex in Mexico, resolving problems of declining production, increased water cut, gas emissions, gas lock, gasification and inefficient pump performance. Indeed, crude production was up an average of more than 20 percent on the test wells in Colombia, and more than 45 percent in Mexican wells suffering from gas lock and poor pump fillage. Gas emissions were completely eliminated on all of them. Furthermore, water wastage was reduced up to 16.5 percent, adding further saving. Pump efficiency was also improved by 44 percent.

At the core of Oleum’s remarkable SIP technology is a control valve and a programmable logic controller (PLC). SIP’s control valve is connected to high-resolution sensors and to a solar-powered industrial computer containing SIP’s proprietary algorithms, which regulate the critical oil well parameters, such as temperature, pressure, and fluid level.


By combining the multi-disciplinary skills of our highly experienced oil production experts, we aim to address the needs of our clients, the oil industry, and the environment at large

When the control valve is shut, SIP forces free gas to accumulate in the well’s annular space, increasing the pressure in the annulus. The sensors detect the fluctuations in gas pressure in the annular space in real-time, and when the well’s optimal pressure is reached, SIP’s control valve automatically opens and releases any excess through the elimination system in place.

SIP is significantly cheaper than the EOR methods or drilling additional oil wells, and can be deployed without stopping or slowing down ongoing oil production processes. “The total cost incurred in implementing SIP is approximately $5000 dollars, which is significantly lower than the $8 million dollars spent on setting up a new oil well,” says Edward Schumacher- Matos, managing partner and CEO of Oleum Technology. And, SIP is not just affordable but also eco-friendly, as it helps fossil fuel companies reduce harmful gaseous emissions and water usage. “We enable the company to control the annular pressure of their well, which facilitates pumping of more oil to the surface while retaining the optimal pressure levels,” explains Schumacher-Matos. The effective control over annular pressure also allows an oil company to resolve gas-related issues like gas lock.

Today, Oleum’s SIP is being widely accepted owing to its immense success rate and extremely easy and quick installation process. Oleum Technology is partnering with a multitude of big players in the oil and gas landscape, namely, Ecopetrol (Colombia), Pemex (Mexico), Petroleum Development Oman, Kuwait Oil Company, and OMV (Austria), among others. “In Ecopetrol and Pemex oil wells, our SIP technology has displayed a 20 percent increase in their oil production. Large and small operators now want SIP to optimize their production.” informs Schumacher-Matos. “By combining the multi-disciplinary skills of our highly experienced oil production experts, we aim to address the needs of our clients, the oil industry, and the environment at large.”

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Oleum Technology

Company
Oleum Technology

Headquarters
New York City, NY

Management
Edward Schumacher-Matos, Managing Partner and CEO

Description
New York-based Oleum Technology addresses the need for cost-effective and eco-friendly oil production process with a proprietary system of integrated production (SIP). The company’s SIP technology is significantly cheaper than EOR schemes and can be deployed without stopping or slowing down oil production.The SIP technology consists of a control valve and a programmable logic controller (PLC) that gathers data from the sensors and transmits it to a control center. The sensors detect the fluctuations in gas pressure in the annular space in real-time, and when the well’s optimal pressure is reached, SIP’s control valve automatically opens and releases any excess gas through anoil well’s elimination system