Global oil and gas service company AGR has released new functionality for its bespoke well data software, iQx™ that will improve the analysis of spatial well data by using data collected from more than 6000 wells drilled on the Norwegian continental shelf.
The new GEO module is aimed at geologists and petroleum engineers, expanding on the existing modules - Offset and Experience - for drillers.
The software’s new capability creates multidisciplinary synergies between the drilling teams and geoscientists. iQx is designed to simplify well data management by reducing cost.
iQx GEO represents a paradigm shift in Well Data Management. Rather than focusing on the safe storage of numerous data files, iQx captures numerical values. The online database enables data integration with the third party interpretation software, and generates immediate graphic dashboards of key reservoir characteristics.
VP Software Solutions at AGR, Petter Mathisen, commenting on the new application, said “iQx represents an innovative database which can be utilised from exploration through to well delivery and production. The uniqueness of the product lies in its multi-disciplinary functionality where different types of data are standardised and exportable in short periods of time. iQx is also a tool for processing great amounts of geological and operational data in a mergers and acquisitions scenario.”
iQx was introduced to the Norwegian market in 2013 and has VNG Norge, OMV Norway, Det Norske Oljeselskap, Lundin Norway and LUKOIL Overseas North Shelf in its client portfolio. AGR is currently negotiating with several multinationals and aims to expand its delivery of iQx technology to international petroleum markets.
Adapted from a press release by David Bizley