Product News and Announcements
On the product side we have several things going on. Our blowout & kill-module is finalized and commercial these days, an important milestone for us, and we are in commercial discussions with several oil companies both nationally and internationally.
The overall feedback from our clients regarding our blowout and kill module is very positive, stating that our approach is unique and that the reduced simulation time makes their work faster and more efficient.
A lot has happened in Oliasoft the past couple of months. We are now 15 full-time employees with backgrounds from software development, math, physics and the oil and energy sector. Changes and new features are added to the software daily, and each change improves the quality of our product.
In November, we attended ADIPEC in Abu Dhabi, one of the world’s largest oil & gas exhibitions, with great success. Our team came home with several new contacts and experienced massive interest both from local and international oil companies.
In December, Oliasoft, as one of 11 innovative technology companies, was granted funds through Demo 2000 by the Research Council of Norway. The project involves piloting of Oliasoft WellDesignTM throughout a range of departments and disciplines in numerous oil companies, including subsurface, drilling & well and digitalization groups. Chairman for the Demo 2000 program, Runar Rugtvedt, comments:
“The projects that have been awarded grants are of exceptional quality and very important for the development of the Norwegian Continental Shelf going forward.”
As Oliasoft WellDesign™ shortly will be commercialized, we are looking forward to growing internationally and we will attend key events worldwide during the upcoming months. In February and March our sales and marketing team is going to the US and Brazil attending a Global Growth program arranged by Innovation Norway. We are also going to Australia and Asia for the first time to attend AOG Perth in addition to a Digital Solution Seminar in Jakarta, hosted by NORWEP (Norwegian Energy Partners). We are looking forward to introducing Oliasoft WellDesign™ to markets we have not been present in before and hope for positive feedback and great interest in our game-changing product.
On March 8th in The Hague, Oliasoft will hold a presentation at ISCWSA’s (Industry Steering Committee on Wellbore Survey Accuracy) 49th General meeting, presenting how we have implemented ISCWSA’s error models, the technical difficulties we encountered, and how these calculations are improved by utilizing cloud based software.