Oliasoft and Tullow Oil sign software licensing agreement for Oliasoft WellDesign™
The agreement encompasses the provision of software licenses for Oliasoft WellDesign®, a future-proof software platform built on a modern software architecture, designed to simplify, and streamline well planning, design, and drilling engineering processes. Oliasoft WellDesign can be utilized as a stand-alone solution or through seamless integration with in-house or third-party applications or systems.
The agreement between Oliasoft and Tullow includes extended use of the Oliasoft WellDesign application, with access to use Oliasoft´s open APIs and integrations. This signifies a milestone in Tullow’s commitment to harnessing digitalization value by committing to cutting-edge and future-proof technology for optimized well design and engineering.
Oliasoft WellDesign will enhance Tullow’s operational efficiency in well planning and enable significant digitalization gains in its work processes within Drilling & Wells.
The key features of this agreement include:
1. Oliasoft WellDesign – Extended Open API Access for in-house and Third-Party Integrations: The extended agreement grants Tullow Oil Open API access, enabling seamless integration with in-house and third-party applications and technologies. This will foster collaboration, data sharing, and interoperability across Tullow’s diverse range of assets and subsidiaries.
2. Optimized Operations: By implementing Oliasoft WellDesign with extended Open API access, the agreement further empowers Tullow’s engineers to customize and optimize their workflows, fostering more efficient and collaborative work in a fully cloud based and digital environment. Tullow Oil aims to achieve enhanced operational efficiency, reduced costs, and improved decision-making in well construction and drilling activities.
3. Priority Usage on Tullow’s Assets: The software license primarily encompasses the use of Oliasoft WellDesign on all of Tullow’s assets. This ensures a standardized, cutting-edge approach to well design and drilling engineering across Tullow’s extensive portfolio.
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Tullow’s decision to choose Oliasoft as its software provider was heavily influenced by Oliasoft’s forward-thinking approach and adaptability. Through the tender and the procurement process of advanced well engineering design tools, the following strengths were highlighted and used as a basis for the decision of Oliasoft WellDesign as the preferred choice:
- Enhanced User Interface: Shares input data efficiently among calculations.
- Continuously Running Calculation Engines: Ensures real-time accuracy.
- Cloud Native Applications: Provides flexibility and accessibility.
- Rules-Based Casing Design: A unique feature with ongoing development.
- Integrated Casing and Tubing Design: Consolidated in a single package.
- Dynamic User-Configurable Output Charts: Customizable charts for user preference.
- Relief Well Design Wizard: Exclusive functionality not offered by competitors.
Oliasoft as a vendor possesses a distinctive edge by seamlessly integrating software proficiency with in-depth domain knowledge to develop user-centric and mission-critical software solutions that effectively address key industry challenges. The company’s demonstrated proficiency in swift problem-solving is particularly vital for navigating the dynamic and complex challenges prevalent in the industry.
Oliasoft is a great addition for Tullow as we transform our company by adopting digital technologies to accelerate our strategy of increased operational efficiency and growth. Our Well Engineering team diligently tested several technologies before embarking on this exciting and productive partnership with Oliasoft.
In response, the Oliasoft CEO expressed enthusiasm about the partnership, saying;
Collaborating with Tullow is a testament to the versatility and power of Oliasoft WellDesign. We are confident that this partnership will not only streamline and digitize Tullow's drilling workflows but also demonstrate the new well planning standard for the industry - by showcasing the potential of cloud-based and future-proof well design and drilling engineering solutions.
This collaboration between Tullow and Oliasoft marks another transition in the industry, where the utilization of open and flexible technologies is key to meeting the evolving demands of exploration and production.
About Tullow Oil
Tullow is a global oil and gas exploration and production company with a strong portfolio of assets across various regions. Committed to excellence and sustainability, Tullow plays a pivotal role in meeting the world’s energy needs while maintaining a focus on responsible resource development. For more information visit www.tullowoil.com
About Oliasoft
Oliasoft is a pioneering provider of modern well planning and design software, dedicated to empowering the energy industry with innovative solutions. With a focus on adaptability and future-proof technology, Oliasoft’s products simplify complex processes, enabling companies to achieve greater efficiency and success in their operations through digitalization.
For media inquiries or further information, please contact:
- Johanna Kosanovic
- Chief Marketing Officer at Oliasoft
- johanna.konsanovic@oliasoft.com
- +47 942 90 445