Executives from PETRONAS Carigali and Geoteric, including Faisal Bakar, VP of Exploration, PETRONAS Carigali (centre) and Jan Grimnes, Chairman , Geoteric (centre, left)

Geoteric, a world leader in AI-driven (Artificial Intelligence) seismic interpretation software and PETRONAS Carigali Sdn. Bhd. (PETRONAS Carigali), a wholly-owned subsidiary of PETRONAS have signed a landmark agreement to strengthen their strategic partnership.

The agreement signifies a step-change in AI adoption for PETRONAS Carigali that will identify new hydrocarbon prospects in less time, increase drilling success and expedite exploration activities overall.

Geoteric is renowned for seamless integration into existing geoscience workflows and the introduction of first-to-market AI into the software in 2019 has had a transformative effect on whole-project efficiency; achieving reductions in cycle time by up to 90%. By combining human expertise with AI, Geoteric empowers geoscientists to make faster, more informed decisions, and ultimately, deliver a faster return on seismic data investments.

The collaboration will allow PETRONAS Carigali to achieve more productive and standardized project execution and additionally, places PETRONAS Carigali in the driving seat alongside Geoteric in developing new technologies and workflows. Furthermore, by deploying an ‘all-access’ Geoteric model globally, PETRONAS will benefit from long-term value creation, technical excellence, and operational scalability, aligned with PETRONAS Carigali’s digital transformation and exploration excellence strategy.

Jan Grimnes, Chairman at Geoteric commented:
“The enhanced agreement with PETRONAS Carigali, building on an existing strategic partnership, is a testament to Geoteric’s capabilities and wider adoption in the industry. This collaboration will not only transform Geoteric’s development direction and how projects are delivered, it also aligns innovation with PETRONAS’ strategic goals - making Geoteric a central driver of PETRONAS’ success”
 
Over the next three years and beyond, PETRONAS Carigali will leverage Geoteric AI across its operational portfolio, leveraging the software’s proven capabilities across the exploration and production lifecycle.

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