Oliasoft WellDesign - Make your wells safer, greener and cheaper!

To achieve EU’s Sustainability Goal 7; Ensure access to affordable, reliable, sustainable and modern energy for all, and to secure the energy supply, as 55% of all consumed energy is imported (87% of all consumed oil, 70% of all consumed gas), new and advanced solutions are needed in order to increase the industry’s sustainability, increase production efficiency and keep the costs down. Drilling of oil and gas wells is one of the most resource-demanding operations in the oil industry, thus measures to reduce the workload and costs are important steps towards increasing the industry’s sustainability and cost-efficiency. An important step in this direction is digitization, which will lead to savings up to $12 per barrel, according to McKinsey & Company, and Oliasoft’s innovation represents the only initiative focusing on integrating the entire calculation chain related to well planning into a single software, creating a modern solution capable of enabling the industry’s digital objectives. Because of this, the project has received tremendous attention from the industry in Norway, Europe and the rest of the world. The technology developed in Oliasoft WellDesign is not only applicable within the oil industry but is also highly valuable for the geothermal energy industry and carbon capture and storage (CCS) industry. The reduction in planning time and the optimization of well design will lead to cheaper and more cost-efficient wells, as well as reducing the environmental emissions by a reduction in drilling time. This is an important step towards making the aforementioned industries viable.