Emerson Automation Solutions announced a business collaboration with IPRES (Integrated Petroleum Resource and Economic Service), an international company based in Norway that provides advanced software tools and services to the upstream oil & gas industry.
Under the terms of the agreement, Emerson will sell IPRES’s flagship solutions IPRISK and IPRESOURCE to its existing and prospective customer base. Both solutions are complementary to Emerson’s Roxar reservoir management software portfolio and will provide operators with sophisticated tools for economic risk analysis, predictive project modeling, and reserves and resource reporting. IPRISK and IPRESOURCE can also be combined with the Roxar Big Loop solution, an automated workflow that integrates static and dynamic reservoir modeling, to provide an economic management solution.
Both IPRISK and IPRESOURCE can be customized according to existing reservoir management databases, and can work alongside Emerson’s reservoir modeling software, Roxar RMS; reservoir simulation software, Roxar Tempest; and production management system, Roxar METTE.
IPRISK is a stochastic tool and risk-based valuation system – available for both the field and the well – that evaluates all risks, scenarios, uncertainties and economics at every stage of the field development lifecycle. IPRISK provides for flexible well or field development planning, economic analysis, and a consistent approach to uncertainty and risk management. Document planning and design workflows also come with cash flow projections.
IPRESOURCE is a corporate asset management tool for managing reserves, resources, reporting and production forecasting for financial and government bodies. IPRESOURCE uses a relational database for data storage and data management, with a central repository for reports and improved corporate production forecasting. This enables users to store and retrieve current and historical data on production, reserves, contingent and prospective resources as well as track the maturation of resources to reserves on all upstream investment projects
The Roxar seismic to simulation solution helps operators make informed decisions across the prospect lifecycle on where to drill, what production strategies to adopt, and how to maximize oil & gas recovery from their assets.
Emerson is a global technology and engineering company providing solutions for customers in industrial, commercial, and residential markets. Emerson Automation Solutions helps process, hybrid, and discrete manufacturers maximize production, protect personnel and the environment while optimizing their energy and operating costs.