Hybrid AI for Production Optimization

What is the product/service about?

We are currently deploying our in-house artificial intelligence platform, ProductionCompass AI, to develop and commercialize new Hybrid AI technologies for oil production optimization adapted to the Brazilian offshore reality.

Origin Country

Norway

Target Country

Brazil

Connect:

Website | Twitter | LinkedIn

Developed by:

Solution Seeker AS

Solution Seeker is a deep-tech Software-as-a-Service (SaaS) company, supporting the next great leap in digital transformation of production teams. We believe that the combination of hard-core science and technology with an unwavering dedication to challenging the status quo is the only way to change our industry for the better. In the age of quick-fixes and the fail-fast mentality, our story is about long-term commitment to cultivating deep knowledge while thinking differently. This belief lies at the core of how we are creating the worlds first AI for real-time production optimization in the oil & gas industry. Solution Seeker’s proprietary technology, ProductionCompass AI, applies big data, machine learning, and optimization techniques to exploit your existing data sources to provide actionable intelligence to production engineers and operators. The idea behind our Compass is to always point the user in the direction of more competent and efficient decisions, either they result in extended awareness, increased production or cost-effective initiatives. As of now, too much data is used in its original raw format, but we can work to unlock the value of data streams.

Where did the project idea come from?

After several prospection visits since 2016, we were shortlisted in October 2019 by a major O&G consortium (Petrobras, Total, Shell, CNOOC and CNPC) to define and propose an R&D project scope. The scope has been refined based on discussions with the relevant customers & stakeholders and has been the basis for our VAP.

Why did you select that specific target country?

Brazil is on track to become the largest offshore market globally, followed by Norway, US (Gulf of Mexico) and the UK. Brazil has also devised strong R&D incentives within the energy sector. The Brazilian regulator, ANP, requires that oil producers invest at least 1% of gross revenues from so-called highly productive fields in R&D.

Who are your partners in the target country?

A Brazilian independent research institute (ISDB) and local legal & market advisors.

What is your long term vision for your company working in your chosen partner country?

We are currently establishing an office in Rio de Janeiro to manage the recently-awarded innovation project. From there we will carry out business development activities and provide services in coordination with our Oslo team, growing organically and making it our hub for the Americas.

What impact do you believe INNOWWIDE will have on your company?

INNOWWIDE has already brought about a major impact on our company: by providing funds and thus allowing for the necessary dedication & focus to pursue our main international lead in 2020, we were able to finally secure the contract we aimed for in Brazil ( https://www.linkedin.com/posts/solution-seeker_solution-seeker-and-isdb-secure-major-innovation-activity-6758312914085535745-DLgb )

Can you offer any advice or guidance to others looking to apply for INNOWWIDE grants?

The application process can be used as a further exercise to assess and structure your ambitions towards the target market. So put in the effort to undertake this internally within your company as a strategy exercise.