ISDB wins contract that aims to optimize production in the World’s largest offshore fields.
We are excited to announce that our R&D partner, ISDB recently has been awarded a contract of 4 years to deliver Hybrid AI tools to optimize production in one of the World’s largest offshore fields, located offshore Brazil, in the pre-salt polygon.
The project will be carried out together with the technology partner, Solution Seeker – a Norwegian AI tech company and creator of the world’s first AI for production optimization in the oil & gas industry.
Since 2012, ISDB has been duly accredited by ANP, Brazil’s oil & gas and biofuels regulator, as a research and development partner in Brazil, and has been known for its core expertise in flow technology, flow assurance and simulations. The Brazilian research institute is now moving to support the industry’s digital transformation efforts and focusing on applying its vast knowledge on physical simulations combined with artificial intelligence.
With innovative and advanced technologies, ISDB and Solution Seeker will deliver solutions for workflow optimization to increase production rates, recover potential and extend the economic lifetime of the wells in the Brazilian pre-salt.
Out of this project arises the establishment of a brand-new, Brazilian-Norwegian AI Center that will deliver applied R&D to the industry. The AI Center will be led by flow technology specialist, João Carneiro who is Head Researcher and Managing Partner of ISDB.
“We believe the best way forward is exploring synergies between physics-based and data-driven models -hence hybrid AI. With the establishment of the new AI Center we aim to support companies in Brazil with hybrid AI solutions and help them apply these solutions in their operations. The complexity of oil & gas operations, especially those in ultra-deepwater oilfields, calls for innovative and digitized solutions that ensure safer and more cost-efficient processes”, says João Carneiro.
The AI Center that will be housing initially 10-15 R&D engineers and Data Scientists in Rio de Janeiro, will have the competence and capacity to take on new digitalization and AI projects for oil & gas companies that need to invest the required 1% of their gross revenue from production into R&D. Furthermore, it will have the mindset of creating fast-track spin-out technologies that can be readily incorporated in the market.
By applying artificial intelligence, the complex data used for oil and gas exploration and production will be more accessible to oil & gas companies and ensures them to operate with more precision and effectiveness. Moreover, AI can enable oil & gas companies to discover new exploration opportunities and make more use out of existing infrastructures.
“This project is a great recognition for the ISDB team, as well as for Solution Seeker. We at M&O are pleased to have played an important role of guiding a foreign technology company into the Brazilian R&D arena, and we think there is a great potential for other companies with world class technologies to also enter the R&D track together with us and ISDB, with a unique approach”, says Erik Hannisdal, Managing Partner at M&O.