Emerson to Enhance Simulation Software for Oil and Gas Reservoirs
Improving reservoir management tools will help Statoil reduce risk in production planning and improve oil and gas recovery
STAVANGER, Norway--(BUSINESS WIRE)-- Emerson Process Management, a global business of Emerson (NYS: EMR) , has teamed with Statoil to develop and test technologies that will enable more accurate and realistic production planning and field management for oil and gas reservoirs.
Statoil is one of the oil and gas industry's leading exploration and production companies and is at the forefront of technology improvements to drive oil and gas recovery rates.
The three-year project will lead to enhancements in Emerson's Roxar™ reservoir management software tools, especially the ability to improve reservoir simulations by incorporating actual production history into mathematically based reservoir models that are used to characterize oil and gas reservoirs and determine where hydrocarbons are. The results will help geologists, production planners, and reservoir engineers to better manage the uncertainties inherent in such models and improve oil and gas recovery.
Emerson's deepwater and subsea technologies include advanced reservoir modeling software that uses 3D and 4D seismic data to more realistically represent and understand a field's complexity, as well as downhole flow sensor technology that provides, for the first time, flow measurements from individual wells to allow more precise actions and improve field recovery.
"The staggering complexity of offshore production - especially thousands of meters underwater and hundreds of miles from shore - demands better intelligence and real-time data about reservoirs," said Steve Sonnenberg, president of Emerson Process Management. "We welcome this opportunity to work with Statoil to develop solutions that better estimate future production and help maximize recovery from its reservoirs."
The technology improvement program is one of several projects Emerson is conducting for Statoil. Emerson recently signed agreements that position Emerson to supply metering systems, as well as automation and safety systems, for Statoil production operations, and use of wireless technology on two offshore oil platforms.
About Emerson Process Management
Emerson Process Management (www.EmersonProcess.com), an Emerson business, is a leader in helping businesses automate their production, processing, and distribution in the chemical, oil and gas, refining, pulp and paper, power, water and wastewater treatment, mining and metals, food and beverage, life sciences, and other industries. The company combines superior products and technology with industry-specific engineering, consulting, project management, and maintenance services. Its brands include PlantWeb™, Syncade™, DeltaV™, Fisher®, Micro Motion®, Rosemount®, Daniel™, Ovation®, AMS Suite, and Roxar™.
Emerson (NYS: EMR) , based in St. Louis, Missouri (USA), is a global leader in bringing technology and engineering together to provide innovative solutions for customers in industrial, commercial, and consumer markets around the world. The company is comprised of five business segments: Process Management, Industrial Automation, Network Power, Climate Technologies, and Commercial & Residential Solutions. Sales in fiscal 2011 were $24.2 billion. For more information, visit www.Emerson.com.
Denise Clarke, 512-899-0004
KEYWORDS: United States Europe North America Norway Missouri
The article Emerson to Enhance Simulation Software for Oil and Gas Reservoirs originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.