HOUSTON, TX, and MUSCAT, Oman February 6, 2018
Quantico Energy Solutions (Quantico), a leader in artificial intelligence (AI) solutions for the Upstream segment of the oil and gas industry, and TARGET, an oilfield services company specializing in digital transformation technology and enablement, today announced a strategic alliance to leverage their respective technology offerings in data management, geoscience consulting and artificial intelligence solutions for the global oil and gas industry.
The alliance between Quantico and TARGET will allow Quantico’s customers to streamline the resources involved in large data-driven deployments, and TARGET’s customers will be able to extract more value from their subsurface data via Quantico’s artificial intelligence capabilities.
For Asset Managers who want to reduce LWD costs, improve drilling efficiencies and downscale seismic interpretations, the ability to access Quantico’s suite of subsurface solutions through TARGET’s cloud-based MEERA platform offers a range of benefits: from significant reductions in project set-up times and execution times, simplified workflows with enhanced quality controls for data preparation, to better AI integration with other subsurface projects and faster results.
“Quantico continues to seek best in class solutions and partnerships that fit the needs of our customers worldwide,” said Barry Zhang, CEO of Quantico. “TARGET’s data management and geoscience consulting expertise will help us deliver an integrated artificial intelligence solution and also provide the in-country presence that major oil companies expect from their leading service providers.”
“Realizing the benefits of true digital transformation is a key goal of many of our customers this year,” said Matthias Hartung, President of Digital Transformation at TARGET. “Quantico’s AI tools are an important addition to our technology partnership program, bringing further innovative capabilities to our customers through the range of tools we offer within our platform.”
Quantico offers a suite of artificial intelligence-based solutions for geophysics, reservoir engineering, formation evaluation, drilling and completions. With commercial work on over 150 wells in US Land, the company recently has been growing its international business with projects in the Gulf of Mexico, the North Sea, Australia and the Middle East. The growth opportunities demonstrate the value that artificial intelligence can deliver to the subsurface segment of the oil and gas industry.
TARGET provides scalable cloud technologies to oil and gas customers through its MEERA platform, which allows large scale datasets to be managed, curated and analyzed online.