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This technology will improve exploration and production operations
Repsol and IBM launch world’s first cognitive technology collaboration for oil industry applications
Press Release
30/10/2014 20:35
- Repsol and IBM have reached an agreement to develop cognitive technology applications for the oil and gas industry that will drive improvements in exploration and production.
- This technology will provide a competitive advantage for Repsol’s strategic decision-making in the optimization of oil reservoir production and the acquisition of new acreage.
- The cognitive technology under development will give computers the ability to understand, reason and learn.
- The project will be a joint effort, with teams from Repsol and IBM working in the first cognitive laboratory in the world, owned by IBM in New York, and the Repsol Technology Centre in Madrid.
- Repsol and IBM have a long history of collaboration, which includes internationally recognized exploration and production projects such as Kaleidoscope and Excalibur.