Enovate Upstream -- a major innovation player in the oil and gas (O&G) industry -- announced collaborations with Beicip-Franlab, a global O&G software solutions provider, and Dsider, a technology company leveraging decision intelligence technologies for industrial companies. The alignment applies multidisciplinary expertise necessary for the energy sector to achieve its net zero standards.
The co-creation mission is to accelerate industry digitalization while working to reduce carbon emissions. The innovative approach connects data, research, process, and technology to deploy digital intelligence necessary for energy transition. As part of this approach, companies can explore new business and operating models to help accelerate their transition by managing revenue and offsetting costs.
Enovate Upstream will add ADA AI Sustainability Series to its ADA AI Digital Ecosystem. The new series is the Environmental, Social, and Governance (ESG) arm of the company's platform. The Dsider partnership is critical in creating a single end-to-end solutions platform for Carbon Capture, Storage and Utilization (CCUS) and Geothermal initiatives. The Beicip-Franlab alignment is instrumental to deploy sustainability offerings by integrating advanced geological and reservoir expertise and software into Enovate's expertise in digital intelligence developments.
"We're dedicated to automated solutions that decrease safety incidents and increase profits, while having less environmental impact," shared Camilo Mejia, CEO at Enovate Upstream. "This exciting opportunity will create a new business market where O&G has the opportunity to accelerate production of geothermal energy and reduce carbon emissions. We're integrating disciplines, applying cutting-edge technology, and using precise modeling components to increase governance of key ESG goals, such as achieving Net Zero."
Using technology, this co-creation strategy allows companies to simulate decisions that offer multiple solutions to achieve net zero goals. Specifically, businesses employ a simulation environment demonstrating alternatives creating a robust intellectual framework to develop new business models. The models provide contextual references weighing production and economic risks and outcomes.
"Our technology is applicable across multiple industries, but Energy transition is the initial focus," shared Sujatha Kumar, CEO at Dsider. "Our solutions provide clarity on the end-to-end processes, technology and associated economics so companies can make informed decisions related to their investments and their operations. The social and economic impact will be helping organizations achieve Net Zero goals while providing more efficient and innovative business models."
"Geothermal potential stored on various geological settings requires deep understanding of rocks' thermal and mechanical conditions that could bring development opportunities -- leveraging from key angles such as sustainability and economics, the integration with real-time decision-making toolboxes, combined with sound geological understanding, guarantees scalable growth of geothermal production," said Felipe Medellin, Beicip-Franlab US General Manager.
ABOUT ENOVATE UPSTREAM
Enovate Upstream is the only business hybrid technology company operated by experienced executives and research leaders from the O&G industry. The cloud-based ADA AI platform uses artificial intelligence at every stage of the upstream value chain to provide reliable decision-making tools using scientific, engineering, and financial data providing capital efficiency and production enhancement at every stage of the well. Enovate Upstream
ABOUT BEICIP-FRANLAB
Beicip-Franlab is a leading independent petroleum consultancy firm and geoscience software editor highly reputed for technical quality, reliability and competitiveness. Beicip-Franlab provides best-in-class consultancy and software solutions in exploration, reservoir and field development, production optimization, process optimization, midstream-downstream studies.
ABOUT Dsider
Dsider is reimagining the future of decision making with its transformative Decision Intelligence platform. By mapping processes, data and knowledge into a "Digital Twin" of the business with embedded analytics, Dsider provides a level of abstraction and simplification to allow users to focus on key metrics, economics and trade-offs to drive better and informed decisions.
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