Gazprom Neft : and MIPT join forces in developing and monetising digital oil-production solutions

Gazprom Neft and MIPT join forces in developing and monetising digital oil-production solutions

04 June 2021 Category: partnership

Gazprom Neft and the Moscow Institute of Physics and Technology (MIPT) have agreed to pursue strategic cooperation, and have confirmed their intention of establishing a joint venture to promote innovative oil-industry software on the international market, under a Memorandum signed by Vadim Yakovlev, Deputy Chairman of the Management Board, Gazprom Neft, and MIPT Rector Nikolay Kudryavtsev.

The agreement is directed at increasing both parties' engagement in R&D, oil and gas engineering, and training high-qualified staff. Gazprom Neft and MIPT plan to develop a 50:50 joint venture to develop and promote their digital developments on the Russian and international markets.

The joint venture's activities will, initially, be directed at technical development and commercialising Gazprom Neft's and MIPT's CyberFracking simulator. This innovative system brings together the modelling, optimisation, analysis and control functions involved in fracking operations - the key technology in enhanced oil recovery (EOR) and in developing hard-to-recover oil. A Russian-manufactured product, the CyberFracking simulator utilises Big Data and machine learning algorithms to improve efficiency and accuracy in fracking operations, and is superior to leading foreign alternatives on a number of criteria.

The parties will also be looking at possibilities for joint R&D activities in digitising production, artificial intelligence, drone technologies and robotisation, EOR, hard-to-recover reserves, and other areas. MIPT is expected to recruit leading specialists in mathematics, physics, cybernetics and geophysics to the project. The partners also intend to work together on scouting and acceleration programmes, scientific councils, and other specialist research boards and committees.

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"Our experience of collaborating with major Russian academic centres demonstrates that the outcomes of this sort of activity lead to new and unique digital products -the result of synthesising international companies' experience with our partners' research capacities - surpassing existing alternatives in terms of their characteristics. We have already seen definite interest in these developments, including on the international market. Our cooperation with MIPT has, already, been ongoing for more than five years, and will form the basis for developing new high-tech solutions for the oil and gas industry."

VADIM YAKOVLEV

Deputy Chairman of the Management Board, Gazprom Neft

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"Russia is one of the world's leading countries in terms of oil production, and this domestic industrial sector not only has a significant impact on driving export and budget revenues, but is also the driver behind other sectors of the national economy. Concluding an agreement between the country's leading technical university and one of the giants of the oil industry to develop innovative methods in hydrocarbon exploration and production could become the driver behind exponential growth in the upstream industry. The future lies in high technology, and we have it in our power to attract the most qualified experts and utilise the latest scientific achievements - something that will, ultimately, allow our country to assume a promising new niche in the global market."

NIKOLAY KUDRYAVTSEV

Rector, MIPT

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