The industry needs a collaborative laboratory to incubate game-changing ideas. The exploration and production (E&P) industry has never been short of innovation, be it in lean times or in periods of intense activity such as we have been experiencing for the past few years. Software development in E&P has continuously delivered new concepts, new science and new methods, which coupled with escalating computing power at an affordable price and increased data integration has created substantial value for their user communities. These innovations directly reduce both investment risk (by increasing the probability that expenditure on assets is allocated to successful projects) and operational risk (through a better understanding of gas-fluid and geomechanical risks associated with drilling, completing and producing an asset).
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