STAVANGER, Norway – Emerson has entered into a three-year agreement with Statoil concerning further development of Roxar RMS reservoir characterization and modeling software.
Statoil will share with Emerson some of its intellectual property from its internal ‘Fast Model Update’ (FMU) workflow that operates within Roxar RMS: the aim is to make both workflows more efficient.
The collaboration will include transfer of knowledge and experience from existing and future Statoil internal FMU projects within Roxar RMS. Areas to be covered will include improving efficiencies, quality control of subsurface reservoir models, handling and analysis of big data, and information management.
In addition, the two companies will support advances in Emerson’s Big Loop solution, an automated workflow said to tightly integrate static and dynamic domains so that they are synchronized throughout the field’s lifetime.
This ensures the most comprehensive uncertainty assessment and the best-quantified risk in the reservoir model, Emerson claims.
Kjetil Fagervik, vice president of Roxar Software product development and marketing, Emerson Automation Solutions, said: “With margins tight and a continued focus on efficiencies, never has it been more important for oil and gas operators to increase oil and gas recovery, reduce uncertainty, and make improved field management decisions.”