Gazprom Neft, IBM join forces to optimize oil production process
- Business & Finance
Russian oil producer Gazprom Neft and the American technology corporation IBM have signed a memorandum of cooperation relating to the use of information technologies in exploration and production (E&P).
The memorandum was signed by Vadim Yakovlev, First Deputy CEO, Gazprom Neft, and John Brantley, Vice President, IBM at this year’s St Petersburg International Economic Forum.
The agreement outlines the key areas of technical collaboration and plans for the implementation of joint initiatives in the development of new technologies for optimizing and automating oil production processes.
Gazprom Neft said it was extending its collaboration with IBM as part of the company’s “Electronic Asset Development (ERA)” project, directed at developing new IT instruments and software for optimising processes in geological prospecting, project management, field development and operation.
The cooperation will draw on cognitive data analysis technologies (the search for trends and patterns in raw data), in machine learning (algorithms learned in the course of data processing), and high-performance computing (the processing of large volumes of data).
According to Gazprom Neft, the application of such technologies will allow the identification of new strategies for increasing effectiveness in field development, increasing the oil recovery factor (ORF), and reducing costs. An initiative for optimising the water-flooding process at mature Gazprom Neft fields, with the aim of increasing the ORF and reducing injection volumes, has been identified as a pilot project.
Vadim Yakovlev, First Deputy CEO, Gazprom Neft, commented: “Digital technologies are changing every aspect of our lives, including oil companies’ approaches to selecting options for field development and operation. A key component of our Technology Strategy is directed at precisely this — optimising asset development through the application of cutting-edge information technologies.”
John Brantley, Vice President, IBM, added: “Initiatives in technological collaboration allow synergies to be achieved in the application of industrial research. Given Russia’s enormous scientific potential we are delighted to combine forces with Gazprom Neft in developing the latest IT solutions for the oil and gas industry.”