Repsol Selects Emerson for Multi-Year Exploration Technology Contract
Global energy company standardizes on Emerson’s Exploration & Production software suite for maximum production efficiencies
Emerson (NYSE: EMR) announced today it has signed a multi-year contract with Repsol to provide its Paradigm® Exploration & Production (E&P) software suite across all Repsol global exploration operations to help identify and evaluate new and existing opportunities more accurately.
“Implementing Emerson’s E&P software suite across our global exploration program will increase efficiencies, reduce costs and improve our understanding of the subsurface,” said Agustin Diz, director of exploration petrotechnical services of Repsol. “Following a thorough evaluation, our decision was based on a combination of an outstanding technical offering, a flexible commercial agreement, and Emerson’s willingness to provide close, on-site support.”
Repsol will leverage Emerson’s E&P software suite, part of the company’s automation technologies and consulting services. The E&P software is designed to help operators increase efficiencies and achieve Top Quartile performance on investment and operational goals within new and established oil and gas reservoirs. Top Quartile performance is defined as achieving operations and capital performance in the top 25 percent of peer companies.
“Emerson’s E&P Software business is focused on helping innovative technology leaders like Repsol extract the greatest value from their field assets,” said Mike Train, executive president, Emerson Automation Solutions. “We’re proud to collaborate with Repsol to provide their geoscientists the insights they need to find oil and gas, and boost the bottom line.”
Emerson’s Paradigm software solution suite at Repsol includes seismic and quantitative seismic interpretation, petrophysical analysis, subsurface modeling, and data management.
Emerson acquired Paradigm in December 2017.