AGR’s iQx™ software nominated for 2016 ONS Innovation Awards
iQx™ well data management and analysis software is in the running for a prestigious 2016 ONS Innovation Awards.
simplifies access to operational data in any format allowing visual display and search of offset well data and relevant experiences. This not only allows operators to increase well planning efficiency but also improves the quality of the project decisions and knowledge management.
The data set is automatically updated from the publically available databases. Additionally, the users can use the database for storing their own data which is either kept private or public towards other software users.
The key feature of the software is automatically standardising the operational data with the ultimate goal to eliminate the human error in data management and guarantee outstanding quality of information.
Key benefits of iQx™:
- Improved multidisciplinary collaboration between G&G and drilling departments
- 50% saving on time used for offset analysis
- Enhanced quality of studying historic well data leading to better well designs
- Historically important experiences highlighted and intuitively searchable enabling users to “repeat their successes, and avoid repeating their mistakes”
- Knowledge retained in the company instead of residing with the individual person/team
- Mitigating future risk and avoiding non-productive time
- Enhanced commercial and technical intelligence in new license areas
- Instant benefits from operational optimisation.
The latest module in the tool, TIME
, uses the latest data from the user’s daily drilling report system and historic activity reports, allowing operators to accurately benchmark ongoing activity against both their own previous projects as well as that of other operators. The automatic synchronisation of iQx™ with all industry recognised drilling reporting systems enables highlighting inefficiencies and opportunities for improvement – ever so important in the oil company’s quest to gain greater insight and control over their upstream projects.
The current software users include Lundin, Det norske, VNG, OMV, and LUKOIL Overseas North Shelf.
Petter Mathisen, VP of AGR’s Software, said: “To have one of our software solutions products nominated for the third year at ONS Innovations Awards is testament to the hard work and vision of the team here at AGR. We pride ourselves on the constant development of value-adding technology – all AGR software solutions are tried and tested by our own engineering team."
The ONS Innovation Awards were created to recognise the fact that the future of the international oil, gas and energy industry depends increasingly on its ability to develop new technologies and solutions. ONS 2016 will be held in Stavanger in August and this year's theme of the biggest energy event in the North Sea is Transition.