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This paper aims at improving the classification accuracy of a Support Vector Machine (SVM) classifier with Sequential Minimal Optimization (SMO) training algorithm in order to properly classify failure and normal instances from oil and gas equipment data. Recent applications of failure analysis have made use of the SVM technique without implementing SMO training algorithm, while in our study we show that the proposed solution can perform much better when using the SMO training algorithm. Furthermore, we implement the ensemble approach, which is a hybrid rule based and neural network classifier to improve the performance of the SVM classifier (with SMO training algorithm). The optimization study is as a result of the underperformance of the classifier when dealing with imbalanced dataset. The selected best performing classifiers are combined together with SVM classifier (with SMO training algorithm) by using the stacking ensemble method which is to create an efficient ensemble predictive model that can handle the issue of imbalanced data. The classification performance of this predictive model is considerably better than the SVM with and without SMO training algorithm and many other conventional classifiers.