| |NOVEMBER 201919At 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. 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." 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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