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RagnaRock Geo utvikler kunstig intelligens verktøy for seismisk tolkning

Alternative title: RagnaRock Geo develops AI-tools for seismic interpretation

Awarded: NOK 1.00 mill.

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Project Period:

2019 - 2020

Funding received from:


RagnaRock Geo develops a machine learning based interpretation software which assists geoscientists in the interpretation of 3D subsurface maps, called seismic. RagnaRock Geo has shown that their software can help save 6 months of the traditional interpretation process. Their interpretation software has generated interest with oil and gas companies because it alleviates manual intensive and time-consuming parts of the interpretation workflow. In that way, the geoscientists can focus on their time on the more value creating tasks in the workflow, and spend more time on in-depth analysis. This will also allow the analysis of bigger areas which increases the chance of locating oil and gas. The time savings alone correspond to around NOK 500 000 per geoscientist per year, however, the value of increasing the probability of finding oil and gas is much higher. Due to RagnaRock Geo's ability to utilize the forefront of research within machine learning to solve complex geoscientific challenges, the innovation-level of this project is substantial. In addition, the company has built a team whose background puts them in a unique position to create solutions for these challenges. RagnaRock Geo's focus on extensive machine learning competence enables them to position themselves in a niche where the need for good solutions is considerable, but where few have the ability to provide and develop them. The company has weekly discussions with world-leading research institutions, such as the Department for Geoscience and Petroleum at NTNU, NTNU's AI-Lab (research unit at NTNU connecting all research on AI), and NTNU School of Entrepreneurship. These research institutions contribute with guidance so that RagnaRock Geo can deliver a state of the art commercial product, which is essential to the company's survival.

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