GEORGE TOWN, Cayman Islands -- Paradigm has posted a third Challenge to the InnoCentive open innovation marketplace. By investing in open innovation, Paradigm hopes to utilize the unique talents of scientists and professionals outside the industry in order to develop progressive solutions to E&P Challenges.
Paradigm is currently offering the InnoCentive Solver community up to $100,000 in cash incentives to develop an advanced digital representation of a 3D subsurface fault network. The desired solution would enable geoscientists to efficiently manipulate and perform advanced geometrical and topological queries of potentially large amounts of fault data, interpreted from seismic images, the company says. The optimum digital representation would enable geoscientists to better understand the deformation of the earth’s subsurface and the migration and entrapment of economic hydrocarbons.
Paradigm signed a contract with InnoCentive in October 2008 to augment internal technology development and accelerate innovation delivery to the industry. The agreement connects Paradigm science and technology experts with InnoCentive’s global network of “Solvers,” a community of more than 180,000 engineers, scientists, inventors, business people, and research organizations
“Understanding what’s happening to our earth and how best to ensure the future of our natural resources is complicated,” says Dwayne Spradlin, CEO of InnoCentive. “Paradigm realizes the power of diversity and group think in solving multifaceted global challenges. Their commitment to embracing open innovation to find the best solutions for oil and natural gas exploration and production is exemplary to organizations everywhere.”
Paradigm looks to open innovation for 3D technology solutions
Paradigm has posted a third Challenge to the InnoCentive open innovation marketplace.