(WO) — Datagration announced the signing of a “groundbreaking” agreement for the PetroVisor SaaS platform. The multi-million-dollar contract, signed with an unnamed Middle Eastern National Oil Company (NOC) covers a significant portion of the company's land production wells for five years.
Building on their existing collaboration, the top five globally ranked NOC and Datagration aim to improve production operations with the adoption of PetroVisor across multiple assets.
The agreement leverages the "Access-to-All" SaaS licensing model, facilitating wider access for the company's operations and engineering professionals as well as executive management.
Key highlights of the contract include a test deployment of PetroVisor’s Electric Submersible Pump (ESP) app for one producing asset, showcasing Datagration's machine learning-enabled ESP data analytics solution.
Additionally, the agreement incorporates the PetroVisor well Workover Candidate Selection app, expanding the scope to address evolving operational needs.
The collaboration between the NOC and Datagration traces back to 2019, with MyrConn, later acquired by Datagration in 2020, spearheading the development and piloting of the first Well Production Optimization (WPO) solution for the company's assets.
Following a series of successful milestones, including the first fully commercial agreement signed in December 2022 and an extension to encompass additional fields in May 2023, this latest agreement marks the first long-term commitment between the two entities.
Commenting on the significance of the partnership, Datagration's chairman & CEO, Peter Bernard stated, “This is a great outcome, especially considering it is a direct award. It is a testament to the quality of work Datagration and our NOC client have accomplished together. This paves the way for further adoption of PetroVisor with this client and demonstrates the platform's applicability across the Upstream E&P sector."
