New addition to DNV GL’s Veracity platform promises to raise drilling efficiency by offering digital solution based on data from 80 000 wells
DNV GL will add a new third party software solution to Veracity, its open industry data platform, that is based on cleaned data collected from 80 000 oil and gas wells.
AGR, the leading well design and drilling project management firm, has agreed to host its iQx software on the platform, which contains information that is vital to companies selecting locations of wells. Users, such as drilling engineers, can access information on numerous metrics including geology and bit performance, enabling them to make smarter and more efficient operational decisions.
AGR has drilled more than 500 wells and developed the solution in reaction to the inefficiencies created by the lack of standardized, high quality information on comparable wells. By using Veracity as a secure and proven way of sharing, holding, and preparing cleaned, aggregated datasets, analysis can be made more accurately. This will lead to more efficient well processes through automated well design, automated report generation, continuous digital well access throughout the lifetime of the well and more efficient plugging and abandonment operations.
Launched in 2017, Veracity is an open and secure platform facilitating exchange of datasets, APIs, applications and insights.
AGR and DNV GL are also looking to leverage their cooperation further and are seeking partners for a Joint Industry Project (JIP). Through its 30 years of experience as a well engineering provider, AGR has gathered data from national data repositories since 2011.
Building on DNV GL’s long experience of running JIPs, the two parties are inviting other industry partners with the goal of creating a smarter more efficient process for drilling and abandoning wells in the future.
About DNV GL
DNV GL is a global quality assurance and risk management company.
Veracity by DNV GL
Veracity is designed to help companies unlock, qualify, combine and prepare data for analytics and benchmarking.
AGR is the leading well design and drilling project management, HSEQ, reservoir and field management service company delivering solutions for the entire field life cycle.