PETROMAKS is one of Norway's major research programs and is governed by the Research Council of Norway. PETROMAKS is assisting the Norwegian government in the implementation of its strategy initiative OG21 (Oil and Gas in the 21st century), which addresses the needs of the oil companies, the supply and service industries and the petroleum-related R&D sector.
Roxar's initial partner on this joint industry project is Statoil and the project is funded one third each by Statoil, Roxar and PETROMAKS.
"We support this project because it is aligned with our vision of becoming a leader in the utilization of integrated operation concepts, and R&D to develop better methods and tools is an important part of our efforts in this area" adds Peter Eilsø Nilsen, Senior Advisor, Integrated Operations, Statoil. "The project is also a natural extension of the cooperation between Statoil and Roxar on improved reservoir modeling methods over the last 15 years."
The Norwegian Computing Center (NCC) is Roxar's main research partner on the FieldWatch™ project. NCC is a private, independent, non-profit research foundation . Petter Abrahamsen, Research Director at NCC comments: "This cooperation with Roxar and Statoil will allow us to maintain and further develop our unique competence in geostatistical reservoir characterization and integrated reservoir risk analysis."
Through R&D in collaboration with the NCC and Statoil's R&D center in Trondheim, Norway, Roxar will develop tools and methods that: 1) foster co-visualization and monitoring and co-analysis of reservoir and production data; 2) enable more realistic reservoir models; 3) improve the accuracy of production forecasts; 4) provide faster history matching; and 5) speed up reservoir management decision loops.
The end result of this three-year project will be a set of software modules integrated with Roxar's flagship 3D reservoir modeling software, IRAP RMS.
Andres Hatløy, Roxar's Vice President of Technology, continues:
His words were backed up by Roxar CEO, Sandy Esslemont:
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