Ambyint, an Industrial Internet of Things technology solution for optimizing oil production, launched today to wells across North America.
Established this year, the Calgary startup is among the first commercial solutions bringing IoT and big data analytics to the oil patch.
“Our mission with Ambyint was to create a potentially ubiquitous solution with the power to optimize every global oil well for the price of a new smartphone,” says founder Nav Dhunay.
Ambyint’s proprietary platform “leverages the latest innovations in lightweight sensors, wireless communications and predictive data analytics, and enables oil producers to autonomously optimize their well assets, increasing production and efficiency, while reducing costs – both operational and maintenance – and ultimately, achieving higher profitability.”
“It has been an incredible journey bringing this platform to market and we’re immensely proud of what’s been created,” Dhunay says.
The Canadian company’s out-of-box solution can be installed by field operators themselves on any oil well and managed through the Ambyint mobile application. In real-time, motor-mounted control mechanisms carry out autonomous, micro adjustments to the pump stroke in order to maintain maximum efficiency and production. Sensors also continuously monitor for indications of component wear to negate downtime.
“We believe that, through harnessing the power of connected machines and mining and analyzing the collected data, the potential exists to, not only consistently refine well performance, but to create fully automated solutions with the power to operate, predict, alert and constantly improve,” Dhunay says.
In short, Dhunay says, Ambyint is positioning “to change the oil industry business model altogether.”