Roxar brings change to Asian oil and gas industry
In an era where every drop counts, the oil and gas industry is taking all measures to maximise production and recovery. Many leading players are turning to Roxar, whose software turns information into value.
"Roxar helps operators increase oil and gas recovery, reduce uncertainty and make improved field management decisions," says Roxar managing director Kjetil Fagervik.
Roxar's reputation has been on the rise. A homegrown success story, the company developed the first-ever 3D geological reservoir modelling programme, and became the world's first integrated automation solutions company when it was acquired by Emerson in 2009. Roxar, a business unit of Emerson Process Management, has its main service centre hubs in London, Houston, Dubai, Kuala Lumpur, Moscow and Rio de Janeiro.
More than 90 per cent of asset teams of producing reservoirs on the Norwegian continental shelf use Roxar products. Among these, Statoil has increased yield rates to more than 50 per cent - an unparalleled feat amid global oil recovery rates that average 35 per cent.
Roxar's plans for the future will focus on speed, accuracy, quality control and stronger intellectual property protection, innovative cloud computing and uncertainty management tools. This year will also see multiple geological scenarios being modelled and captured for seismic interpretation and a new integrated user and common data management platform.
Roxar is also set to intensify activities in Asia, particularly in Malaysia, Vietnam and on the mainland, where it works with PetroChina, CNOOC and Sinopec through Beijing-based partner Essca. It will also explore other application areas, such as mining, that can benefit from subsurface modelling.
"We are on the lookout for partnerships that will accelerate our Asian growth," Fagervik says. "Through our products and experts in the region, we aim to bring positive change to the way the industry works in the next five years."