Emerson and Quantum Reservoir Impact announced they have teamed up to develop and market next-generation applications for artificial intelligence (AI)-based analytics and decision-making tools customized for oil and gas exploration and production (E&P). Together, the two E&P software industry leaders will help oil and gas customers embrace digital transformation technologies and harness vast amounts of data to optimize their reservoir management strategies.
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. “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,” said Steve Santy, president for E&P software at Emerson. “Collaborating with QRI enhances our capabilities to give customers meaningful analytics to maximize production and capital efficiency and for better reserve assessment.”
As part of the ongoing collaboration, the companies 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.