Let’s end the week with a look back at one of the news items in the flurry of news coming out of CERAWeek. The news, Repsol Selects Emerson for Multi-Year Exploration Technology Contract, describes how Repsol has standardized on Emerson’s Paradigm Exploration & Production software suite for maximum production efficiencies. From the news release:
Repsol will leverage Emerson’s E&P software suite, part of the company’s automation technologies and consulting services. The E&P software is designed to help operators increase efficiencies and achieve Top Quartile performance on investment and operational goals within new and established oil and gas reservoirs…
Emerson’s Paradigm software solution suite at Repsol includes seismic and quantitative seismic interpretation, petrophysical analysis, subsurface modeling, and data management.
In this 7-minute CERAWeek OnDemand video, CERAWeek Conversations with Tomás García Blanco, IHS Markit’s David Hicks interviews Repsol executive managing director for upstream Tomás García Blanco about their digital transformation efforts in the upstream portion of the business. Tomás notes that Repsol is an integrated company, not only in the upstream business, which helps its resiliency given rapid price swings in the upstream and downstream markets.
He explains that flexibility and versatility are very important in these changing market conditions. When asked about their digital transformation initiatives, Tomás highlights 5 important principles:
- Democratize the data—having data available for everyone and a common source and frameworks for access, instead of separate data silos
- Increase accessibility to Digital Twin reservoir models—move away from siloed models into a common framework again more widely accessible
- Move to a more collaborative culture to take advantage of the wide accessibility of the data and models to inform better decision making in integrated operations (iOps) center
- Automate repetitive tasks and inefficient workflows to allow staff to perform higher value activities
- Improve flexibility and productivity in seismic interpretation using advanced technology
At 5:42 in the video, Tomás describes how the 5th principal is how the Paradigm software enters the picture. He shares how a collaborative approach was taken between the Repsol seismic interpretation experts and the Emerson software developers to deliver the capabilities required for their digital transformation initiative.
For more, visit Emerson’s Paradigm exploration and production solutions site. You can also connect and interact with other oil & gas exploration and production experts in the Oil & Gas group in the Emerson Exchange 365 community.
