Oliasoft is Announcing a Contract with Equinor
STAVANGER/TRONDHEIM/OSLO, 15th January 2021: Oliasoft has been awarded a development contract with Equinor to test deployment and integration of its software, Oliasoft WellDesign (OWD) into Equinor’s internal well planning systems. OWD will be deployed as a pilot at two Equinor assets.
Equinor Research and Technology and Oliasoft have worked together since 2017 to develop OWD into a tool that aims to meet Equinor’s current and future needs for safe, efficient, and digital well planning.
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Equinor is excited to continue the close cooperation and development of Oliasoft WellDesign, moving the software from early development to the upcoming pilot test.
The software is based on industry standards as well as up-to-date research and built using a modern software, enabling simple and efficient operation and integration with other systems. OWD enables an efficient well planning process and liberates data, making it available to other software applications through Open APIs, and allowing machine-to-machine communication. OWD also offers a modern web-based user interface, which makes it easy to use.
OWD’s goal is to enable added efficiency and safety into the well-planning and well design processes. OWD APIs enable streamlined integration with existing internal Equinor systems. At the same time the full suite of OWD applications remain available for the parts of the working process requiring design customization. Together with other Equinor systems, OWD will enable incremental improvements to current and future working processes.
OWD’s software offers numerous modules for Trajectory Design, Casing Design, Tubing Design including thermal effects, Blowout & Kill, and Drillstring Mechanics (Hydraulics/Surge & Swab and Torque & Drag). All of these are part of the cooperation.
Oliasoft is excited to enter into a further development partnership with Equinor. A successful deployment test of OWD and onboarding of Equinor’s users could pave the way for a potential broader implementation of OWD in Equinor going forward.
About the partnership
Since 2017, Oliasoft has worked closely with Equinor to verify and develop the software. All software modules are being thoroughly inspected and reviewed by Equinor’s Subject Matter Experts. They have provided valuable feedback which has improved OWD, and they will continue to do so for the scope of this contract. The capabilities are continuously evaluated to ensure that Oliasoft WellDesign fits Equinor’s digital roadmap.
“The contract is a major milestone for Oliasoft, and something we have worked to achieve for a long time. Equinor is a pioneer in the industry, both when it comes to adopting new and modern technology, but they are also one of the most skilled at ensuring the quality of its suppliers and the tools they use”.
About Equinor ASA
Equinor’s purpose is to turn natural resources into energy for people, and progress for society. Equinor, a broad energy company with more than 21000 employees committed to develop oil, gas, wind and solar energy in more than 30 countries worldwide. Equinor is dedicated to safety, equality and sustainability. As the largest operator in Norway, a leading international offshore operator and a growing force in renewables, they are shaping the future of energy.
About Oliasoft AS
Oliasoft is a Norwegian software company specialized in developing integrated cloud engineering software for the energy sector. Oliasoft has recently launched Oliasoft WellDesign, a cutting-edge well planning suite that includes all mandatory calculations for well construction. Oliasoft converts the latest in web-based software technology into user-friendly solutions built to digitize the well construction domain. Oliasoft has worked closely with some of the world’s largest operators and industry leading research institutions to ensure product market fit.
Media Relation
Tina Wang, Chief Marketing Officer, Oliasoft | +47 986 14 167 | tina.wang@oliasoft.com
André Backen, Chief Executive Officer, Oliasoft | +47 908 79 707 | andre@oliasoft.com