Oil, Gas & Energy Industry

Oil, Gas & Energy Industry

Application Description:

Problem Use Case

  • One of the leading resource management solution providers who help manufacturers manage their energy and resource costs; collaborated with Canopus to accurately estimate energy resource required per machine and subsequently take corrective action to reduce energy inefficiencies within their production processes.
  • They were facing following challenges:
  • Difficult to use historical machine level production outputs in order to reduce energy inefficiencies.
  • Difficult to recognize opportunity areas to reduce their energy resource consumption.

Solution Provided

  • Canopus’ initial analysis revealed that the relationship between electricity consumption and production for a given machine had a fixed and variable component, both of which needed to be successfully captured by our model.
  • Then we developed predictive models to help our client identify opportunity areas to reduce their energy resource consumption.
  • Canopus’ model predicted the overall energy consumption of the production facilities with up to 97% accuracy.
  • We identified the areas where energy efficiency could be gained by modifying the production schedule. It led to the significant impact on bottom-line of their customers/clients.

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