Emerson and Quantum Reservoir Impact (QRI) have announced they have joined forces to develop and market next-generation applications for artificial intelligence-based analytics and decision-making tools, that are customised for oil and gas exploration and production (E&P).
Together, the two E&P software companies “will help oil and gas customers embrace digital transformation technologies and harness vast amounts of data to optimise their reservoir management strategies”, QRI said in a statement.
It added that the collaboration combines the power of Emerson’s global reach and the world’s largest independent E&P software portfolio with QRI’s leading industry expertise in applying augmented AI, machine learning and advanced analytics for asset and reservoir management.
As to the motivation behind the project, QRI said: “People, process and data are as important as technology to the success of the solution. Our partnership with Emerson makes for a very powerful team to ensure that our offerings will become a prominent choice in the market.”
Steve Santy, president for E&P software at Emerson, added: “The combination of our technologies and deep E&P expertise in offshore, unconventional and mature fields results in a robust offering that can give customers a significant advantage in the marketplace.”
As part of the ongoing collaboration, the companies said they will apply “advanced computational technologies” to help geoscientists and engineers make actionable and reliable field development decisions quickly, mitigating risks and leading to higher productivity and better performance.
Dr. Nansen Saleri, Chairman, CEO and Co-Founder of QRI, said: “As our industry continues to transform, we share Emerson’s vision of applying state-of-the-art deep learning tools to automate next-generation workflows and offer our customers a rapid means of generating value.”
For more information visit www.Emerson.com/EPSoftware