Geoteric, a leading software and services provider, has reported a dramatic uptake of its on-premise Collaborative AI since the commercialisation of this technology in September 2020. This increase comes during a year that included a global pandemic, oil market crash and increased interest in the changing energy landscape.

To date, over 30 E&P companies have adopted Geoteric on-premise Collaborative AI. The wide-scale adoption is attributed to the data-driven, rapid results that support effective new ways of working and its ability to minimise production costs and free up cash flow quickly.

Owen Lee, SVP Global Sales commented: 
“E&P companies are seeing the benefit of Geoteric’s AI-driven fault interpretation which is central to subsurface understanding. Its enhanced results are changing operators field development plans and improving safety in well planning, as well as having an immediate impact on project timeframes. In some cases, compressing projects from years to weeks.”

“Adoption was underway with our AI fault service offering, allowing organisations to benchmark Geoteric results in advance of the software release. Following the success of our webinar training series after the launch of Collaborative AI, users and companies quickly saw the low training threshold required and were quick to adopt.”

Collaborative AI complements the existing Geoteric workflows. It enhances traditional interpretation, and efficiently extracts faults from seismic data at the click of a button – no requirement for network training. By moving from line by line manual analysis to Collaborative AI, the interpretation is augmented with artificial intelligence, which enables faster and more accurate results.

KeyFacts Energy Industry Directory: Geoteric