Equinor invests in Earth Science Analytics
(September 2, 2020): Equinor Ventures has completed an investment in Earth Science Analytics AS — a company at the forefront of artificial intelligence in petroleum geoscience.
Earth Science Analytics (ESA) is a Stavanger-based company developing the next generation petroleum geoscience software based on artificial intelligence, physics and data-driven approaches. Earth Science Analytics’ proprietary software package EarthNET, is a modern cloud-native application that allows faster, cheaper and more accurate prediction of rock and fluid properties in the subsurface.
Lisa Rebora, Senior Vice President in Equinor Exploration, commented:
“Digitalisation is impacting how we work, making it easier to analyse and be creative with data, improving how we collaborate and enhancing our understanding of the subsurface. We are always seeking to learn and improve, looking externally for those partners and innovators who can help us release the value of our data and the knowledge of our people. The Earth Science Analytics cloud-native solutions will contribute to empower more people to access data-driven and cutting-edge technology, and help generate more opportunities and value with increasing efficiency.”
The investment will allow Earth Science Analytics to continue developing EarthNet as well as scale-up its activities worldwide. Equinor Ventures is investing in ESA together with Wintershall Dea Technology Ventures and Sumitomo Corporation.