Geoteric | Top 10 Artificial Intelligence Consulting/Service Company - 2019
Geoteric: Time-saving AI-backed Solution for Seismic Interpretation
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CIOREVIEW >> Artificial Intelligence >> Geoteric

Geoteric has been recognized by CIOReview Magazine as the recipient of “Top 10 Artificial Intelligence Consulting/Service Companies - 2019,” based on our proprietary methodology, reflecting its position in the industry. This profile has been developed by the CIOReview research and editorial team based on insights from an interview with James Lowell, Research and Development Director.

Geoteric
Time-saving AI-backed Solution for Seismic Interpretation

Geoteric

James Lowell, Research and Development Director
Energy companies continue to look towards revolutionary technology to help maximize their return. The first step towards a good investment starts with identifying and evaluating a potential target. One area of this understanding is fault detection. Traditionally, this method works with a substantial volume of seismic data and involves a lengthy human interpretation time (months for that matter), which directly affects the time to sanction a project. Owing to its subjective nature, interpreters’ observations can lack clarity and unanimity in terms of fault detection attribute analysis. To address the problem, Geoteric initiated a revolutionary idea of leveraging the prowess of AI in the seismic interpretation workflow.

“Geoteric isn’t just delivering AI technology; rather, we’re delivering an understanding of the Earth,” quotes James Lowell, Research and Development Director of the company. With over 30 years of experience, Geoteric has been a pioneer in developing innovative technologies that could translate geophysical information into geological understanding. Based on their proprietary AI Fault Interpretation Service, Geoteric helps geoscientists make better-informed, decisions based on seismic data.

Geoteric’s integrated intelligence platform is centered around the interpreter to improve the quality, speed, and understanding of Earth’s subsurface data using AI based workflows. The workflow is customizable, and the platform can assist in interpreting the data by accurately identifying subsurface events quickly (in a matter of hours). The AI fault interpretation service, ensures more time is available for interpreters to understand the entire structural regime and to concentrate on complex areas that require human interpretation skills. The platform can complement the traditional seismic workflow and makes it easy to effectively analyze large exploration areas, and detailed zones of production. The industry leading geological evaluation software enhances signal to noise ratio, which in turn, forms clearer and sharper images with better resolutions.

Geoteric isn’t just delivering AI technology; rather, we’re delivering an understanding of the Earth


It helps in reducing the drilling risk and in identifying any potential hazard, to avoid any negative effect on exploration or production. The platform also helps in better understanding of complex tectonics for improved planning and better risk management.

According to Wellesley Petroleum, Geoteric’s AI-Fault interpretation has an immediate impact on their subsurface understanding, enabling improvement to its well planning process. This is one of the company’s many customer success stories. Geoteric has catered to clients across the globe by leveraging deep learning to understand the behaviors, patterns, and trends within seismic data to provide a better understanding of subsurface fault interpretation. “We’re confident our service works out of the box as we have, and continue to run in-house projects over a vast range of volumes from around the globe comprised of a range of vintages and varying data quality (increasing weekly, tested on 75+ to date). However, we understand our customers want to develop and train their own networks. Networks can be trained with their own interpretation, capturing the detail of the data in their region,” adds Lowell.

With a continued focus on innovation, Geoteric solution stack is going cloud-native. The company aims to adopt emerging industry data standards and is looking forward to commercializing newer AI interpretation technologies. Expanding their workforce to cope with the demand for its new AI technologies. Geoteric is creating the future of seismic interpretation and has become a proven leader when it comes to the innovation and commercialization of data-driven, interpreter guided technologies.

Geoteric

News

Brazil: Geoteric announced as key player in Petrobras’ ambitious business strategies

Wednesday, July 17, 2024

Global AI Seismic Interpretation experts Geoteric and Petrobras have announced a landmark partnership. As part of a multi-year, multi-million dollar agreement, Petrobras Exploration team have adopted Geoteric AI Fault Interpretation software.



Geoteric enables rapid interpretation of seismic data without compromising on quality or accuracy; dramatically shortening subsurface project timelines allowing energy companies to fast-track assets, operate more sustainably and achieve net zero targets by expediting carbon, capture and storage (CCS) activities.

Image source, Petrobras. Geoteric AI Fault Interpretation will be deployed in the challenging areas of the pre-salt, Campos and Santos basins where accurate structural information is key in understanding salt movement, trap formation and reservoir compartmentalization.



The milestone agreement comes as Petrobras unveils its business strategy with a focus on advancing solutions for safe and responsible exploration and production. Geoteric AI Fault Interpretation will be deployed in the challenging areas of the pre-salt, Campos and Santos basins where accurate structural information is key in understanding salt movement, trap formation and reservoir compartmentalization.



Nicola Blanshard, CEO, Geoteric commented: 'We are very proud to be continuing our relationship with Petrobras and playing a key part in plans to enhance exploration and production capabilities. Geoteric is renowned for its low user training threshold and seamless integration, meaning the technology can be installed today and deliver real business value tomorrow.'



Otaviano Pessoa, General Manager at Petrobras, said: 'Our partnership with Geoteric demonstrates Petrobras’ commitment to continuous investment in innovative technologies that will strengthen our position as a global energy company prioritising people, safety and respect for the environment, generating value for future generations and a more sustainable world for all.'

Top 10 Artificial Intelligence Consulting/Service Companies  - 2019

Company
Geoteric

Headquarters
Newcastle Upon Tyne, England

Management
James Lowell, Research and Development Director

Description
With over 30 years of experience, Geoteric has been a pioneer in developing innovative technologies that could translate geophysical information into geological understanding. Based on their proprietary AI Fault Interpretation Service, Geoteric helps geoscientists make better-informed, decisions based on seismic data. The platform can complement the traditional seismic workflow and makes it easy to effectively analyze large exploration areas, and detailed zones of production. Geoteric is creating the future of seismic interpretation and has become a proven leader when it comes to the innovation and commercialization of data-driven, interpreter guided technologies

Top 10 Artificial Intelligence Consulting/Service Companies  - 2019

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