The Fundamentals of AI in Oil and Gas
The oil and gas industry has cutting-edge technology when it comes to the processes of drilling for oil, but when it comes to invoicing and scheduling crews and equipment, the technology is rather basic. On top of the antiquated technology for administration work, the oil and gas industry faces challenges of working in unconnected environments and complex pricing of their products and services.When taking into consideration these challenges, artificial intelligence (AI) innovation is not the first thought for the oil and gas industry.
Revenue Leakage: A Cost of Doing Business or Ripe for Change?
Talk to any business leader in the oil and gas industry and they’ll likely tell you that revenue leakage is an unfortunate cost of doing business. It’s no secret, it’s just something that happens. And most CFOs don’t know that there are solutions that can help them save their companies tons of money, and who doesn’t want that?But this usually requires the implementation of new technologies, not something that the majority of oil and gas professionals often embrace.
Wartsila Bags Energy Storage Contract from ContourGlobal
Wartsila has won a 6 MW energy storage project contract for the Caribbean island of Bonaire from ContourGlobal Bonaire, a subsidiary of London based ContourGlobal.The engineering, procurement, and construction (EPC) hybrid energy project includes both the hardware, consisting of batteries and inverters, as well as GEMS, the energy management software from Greensmith Energy, a Wartsila company."The energy storage system will enable Bonaire, part of the Netherlands Antilles, to increase its use of renewable energy such as wind and solar.
Wellit Partners with Norvestor
The owners of software company Wellit have decided to sell 60 percent of company shares to private equity company Norvestor.Wellit develops logistics solutions for the global oil and gas industry. Its software, WELS, is a cloud-based multi-tenant platform tailored to the oil and gas industry.WELS enables all involved parties in the oil and gas value chain to communicate on one logistics platform, thereby removing the risk of miscommunication and duplicate information. WELS optimizes planning and reduces lead-time from order to delivery.
Emerson Launches Roxar API
Emerson Automation Solutions has launched the Roxar API (Application Programming Interface), its extensibility solution for reservoir modeling and, in particular, for its industry leading software Roxar RMS. The Roxar API helps operators customize their workflows to achieve specific goals; improves data management capabilities with greater interoperability and flexibility; preserves vital reservoir information across multiple-stage workflows; and enables…
DNV GL Launches New Stability Analysis Tool
With the latest release of Sesam HydroD software for floating structures, DNV GL is now offering a completely new and pioneering stability analysis solution that allows for hydrodynamic and stability analysis on one common model, giving naval and offshore engineers unprecedented control over their projects. The design and engineering of floating structures relies heavily on both hydrodynamic and stability analyses, which are necessary in order to optimize safety in various environmental conditions.
Cyberhawk Lands in Portuguese Market
Cyberhawk Innovations continues to bolster its international credentials through a new partnership with Portugal’s leading engineering service provider and contractor Construção e Manutenção Electromecânica (CME). The agreement will see customers in Portuguese speaking markets benefit from a unique combination of Cyberhawk’s industry leading cloud based asset management software, iHawk, teamed with CME’s detailed local knowledge and UAV solution. The partnership is a significant strategic boost for Cyberhawk’s growing global expansion plans…
AVEVA 3D Plant Design Solution for Statoil
AVEVA has entered a multiyear agreement with Statoil ASA for AVEVA Everything3D (AVEVA E3D). The Norwegian Energy owner operator has selected AVEVA E3D to be its strategic 3D design software platform. Following the migration to AVEVA E3D by a number of other companies, Statoil selected it as the natural upgrade of its existing design system, AVEVA PDMS. Statoil will benefit from improved design efficiency and AVEVA E3D’s simple migration from AVEVA PDMS, means there will be no disruption to existing projects.
Schlumberger, Ikon in Software Development Deal
Schlumberger and Ikon Science announced today an agreement to further develop the existing quantitative seismic interpretation capability in the Petrel* E&P software platform. The collaboration will make high-value seismic workflows fully available to customers and allow easy access to advanced reservoir characterization tools. Bringing key capabilities of the RokDoc software platform, developed by Ikon Science, into the Petrel platform will enable geoscientists to derive enhanced geologic understanding from seismic data.
Schlumberger, IBM Team Up to Boost Upstream Production
Schlumberger and IBM today announced that they have teamed up to provide integrated services to upstream oil and gas customers that will improve the business impact of production operations projects. The offering combines Schlumberger’s production optimization services, upstream expertise, and industry-leading Avocet* production operations software platform with IBM’s enterprise asset management and enterprise services to deliver an end-to-end service for optimizing integrated production operations.
O&G Software Specialists Posts Record Year
Launching Datum360 in 2009 as an engineering information consultancy, founders Steve Wilson and Dave Mitchell have turned the company into a £1.8 million turnover business that within the last three years has become one of the U.K.’s leading providers of Software as a Service (SaaS) to the oil and gas sector. Providing information management software to oil and gas clients across the globe including Houston and Kuala Lumpur, the Middlesbrough-based…
BP Standardizes on Schlumberger Technology
Schlumberger announced today that the Petrel* E&P software platform will support BP’s new digital technology roll out. The first deployment of the two-year global implementation has been successfully completed for staff at the company’s business unit in Aberdeen, Scotland. “The Petrel platform is replacing an existing software toolkit to help upstream technical staff optimize work processes, improve efficiency and reduce non-productive time associated with drilling new wells,” said Uwem Ukpong, president, Schlumberger Information Solutions.
BP Standardizes Upstream Software Platform
Schlumberger announced that the Petrel E&P software platform will support BP’s new digital technology roll out. The first deployment of the two-year global implementation has been completed for staff at the company’s business unit in Aberdeen, Scotland. “The Petrel platform is replacing an existing software toolkit to help upstream technical staff optimize work processes, improve efficiency and reduce non-productive time associated with drilling new wells,” said Uwem Ukpong, president, Schlumberger Information Solutions.
ABB, Bosch, Cisco in Technology Pact
International joint venture mozaiq operations GmbH to offer an open protocol smart home software platform for all home appliances, devices and services, to simplify the experience for home owners. ABB, Robert Bosch GmbH and Cisco Systems Inc. today confirmed the formation of an international joint venture called mozaiq operations GmbH to develop and operate an open-software platform for smart homes. The platform will help to unify today’s stand-alone solutions for home automation and offer interoperability across devices.
AVEVA Acquires 8over8
AVEVA Group plc one of the world's leading providers of engineering design and information management solutions has acquired 8over8 Limited from management and certain private individuals. 8over8 is a software business, headquartered in Northern Ireland with operations in North America, Middle East and Australia, providing contract risk management software to the Oil & Gas, Mining and other infrastructure industries. 8over8 recorded revenue of £10.0…
New Nylon Pipe, Alternative for Oil Industry
A unit of Koch Industries said on Wednesday it was introducing a new type of pipe made from nylon, as surging oil and gas output drives demand for new pipelines and concerns mount about the safety of older ones across North America. Koch's Invista unit said the nylon pipe was designed to withstand tough oilfield conditions, including corrosive liquids, abrasions, considerable pressure and high temperatures. "We discovered a strong market signal for a line pipe that was tough enough to handle the oil patch and perform daily under rugged conditions…
Schlumberger Launches First Photorealistic Reservoir Geology Service
Schlumberger today launched the Quanta Geo* photorealistic reservoir geology service at the Offshore Northern Seas Annual Conference and Exhibition. The new service includes the industry’s first microresistivity imager that produces oriented, photorealistic, core-like images of the formation in wells drilled with oil-base mud (OBM). Interpretation of the images identifies geological features and predicts reservoir trends in 3D with a high degree of certainty.
Petrotechnics Named "Cool Vendor in Oil & Gas"
Petrotechnics, a global company in transforming frontline operational performance and lowering operational risk has announced that leading analyst firm Gartner has named Petrotechnics a “Cool Vendor” in Oil & Gas in a report published by Gartner on April 25, 2014. Gartner's annual ‘Cool Vendors in Oil & Gas’ report recognizes vendors that are bringing innovative capabilities to help oil and gas companies succeed. Cool vendors are transforming the way businesses operate and consumers engage with technology.
Schlumberger Acquires Rock Deformation Research
Schlumberger announced today that it has acquired Rock Deformation Research (RDR), a U.K.-based company specialized in geological software development and structural geology consultancy for the oil and gas industry. By integrating with the Petrel E&P software platform and Studio E&P knowledge environment, RDR’s Structural and Fault Analysis module provides users with tools to reduce risk and quantify uncertainty, while Studio Advisor enables Petrel platform users in process standardization and competency development.
