Emerson has signed a multiyear agreement on April 16 with YPF SA, a major Argentinian energy company, for Emerson’s E&P software for seismic data interpretation and visualization.
This comprehensive software portfolio gives YPF a holistic subsurface view of its reservoirs and exploration areas, leading to a collaborative and integrated seismic interpretation workflow for faster cycle-times. Emerson replaces other interpretation solutions at YPF and becomes its corporate interpretation software standard.
As the leading E&P company in Latin America, YPF produces almost 50% of the oil and 30% of the natural gas in Argentina. Production comes from more than 100 areas in Argentina’s five producing basins: Austral, Golfo San Jorge, Neuquina, Cuyana and Noroeste.
YPF sees Emerson’s seismic interpretation solution—combining geophysics, geology, petrophysics and engineering—as an essential contributor to its drilling success. Due to the integrated environment, seismic interpreters will access a unique database and use modeling technology to validate their interpretation and to construct more representative models of the subsurface.
“After an intensive technical and economical evaluation, we concluded that Emerson’s applications provide an interpretation platform that enables project integration, seismic interpreters collaboration and provides easy access to the corporate database while accommodating multiple users. This allows us to maximize the usage of data, reduce the seismic interpretation cycle-time to reach most accurate results in an integrated and collaborative way,” Teresa Santana, chief geophysicist of YPF, said.
Emerson’s leading E&P software is part of the company’s overall focus on helping the industry leverage digital transformation technologies to safely optimize operations and enhance production.
“Our goal is to help energy exploration and production companies extract the most from their field assets,” Steve Santy, president of E&P software at Emerson, said. “We are proud to collaborate with YPF and to provide the tools and insights they need to increase efficiency, reduce costs and seismic interpretation time, and accelerate digital transformation.”
The first Emerson E&P software solution to be integrated into the YPF portfolio is its multisurvey seismic interpretation and visualization suite. The agreement also gives YPF access to Emerson software solutions for processing and imaging, modeling and petrophysics.
Plan would allow Platts to include US crude in its benchmark.
Both Brent and WTI contracts surged more than 4% on March 5 after OPEC and allies, together called OPEC+, extended oil output cuts into April, granting small exemptions to Russia and Kazakhstan.
The market has been expecting the OPEC+ group of producers to ease supply cuts but sources say some key members had suggested that oil output across the OPEC+ group should be kept unchanged.