Scientists at IBM and leading global energy company Repsol announced the world’s first research collaboration to leverage cognitive technologies that will help transform the oil and gas industry. IBM and Repsol are jointly developing two prototype cognitive applications specifically designed to augment Repsol’s strategic decision making in the optimization of oil reservoir production and in the acquisition of new oil fields.
The oil and gas industry boasts some of the most advanced geological, geophysical and chemical science in the world. However with the explosion of big data and emerging science, the discovery, mining, integration and interpretation of this data, together with critical geopolitical, economic and other global news, require a whole new approach to computing that can speed access to business insights, enhance strategic decision-making and drive productivity.
Using the capabilities of IBM’s pioneering Cognitive Environments Laboratory (CEL), Repsol and IBM researchers will work together to jointly develop and apply new prototype cognitive tools for real-world use cases in the oil and gas industry. Cognitive computing software agents and technologies will be designed to collaborate with human experts in more natural ways, learn through interaction, and enable individuals and teams to make better decisions by overcoming cognitive limitations posed by big data.
Scientists in the CEL will also be able to experiment with a combination of traditional and new interfaces based upon spoken dialog, gesture, robotics and advanced visualization and navigation techniques. Through these modalities, they will be able to learn and leverage sophisticated models of human characteristics, preferences and biases that may be present in the decision-making process.
The two prototype applications that will be jointly developed by IBM and Repsol will leverage cognitive computing capabilities to specifically help Repsol reduce the risk and uncertainty of future oil field acquisitions and maximize the yield of existing oil fields – both of which can have a significant impact on the efficiency and efficacy of the global operations of Repsol and all oil and gas companies.
“Repsol’s technological research and applications have already helped us significantly improve the way we visualize and develop oil and gas fields, and this latest collaboration with IBM opens up a whole world of new possibilities. We are convinced that the seamless blending of technology and talent will be the key driver for the industry in the 21st Century, where efficient management of resources is paramount,” said Santiago Quesada Garmendia, Director of E&P Technology for Repsol.