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Fiona Ford | June 4, 2019

Geoteric announces release of their new AI service

LONDON, UK – June 4, 2019 – Geoteric announced today the launch of its integrated intelligence service offering, which leverages the power of artificial intelligence (AI) to assist the seismic workflow.

In contrast to conventional AI approaches, Geoteric has developed an integrated intelligence service to complement traditional fault interpretation techniques. It will be delivered using Geoteric’s AI platform.

Centered around interpreter knowledge, the platform enables the application of artificial intelligence, machine learning and deep learning techniques to be adopted.  Exported results deliver a set of features that can not only be understood by interpreters, they can be queried and QC’d to provide a confidence assessment of a feature and deliver an improved evaluation of risk.

Jan Grimnes, Chairman said “For over 30 years Geoteric has been committed to developing the technology needed to allow interpreters to do what they do best.  To date, many subsurface AI proof of concept examples have been theoretical, presenting black box thinking.  As a consequence, it is difficult for decision makers to accept the results of the process.  Geoteric’s AI platform is different – we’ve lifted the lid on the black box”.

Adding, “Geoteric’s AI platform is already delivering results which demonstrate time savings in excess of 70% for small projects and even greater wins on larger developments.  All traces are analysed giving a high-quality interpretation with associated confidence assessment.”

To celebrate its release, Geoteric has also chosen to evolve their brand.

Nicola Blanshard, CEO of Geoteric said, “Geoteric continues to predict and innovate for the needs of the subsurface arena.  Our success to date has been down to the delivery of several industry firsts which have become a standard part of the workflow you see today”.

She added, “The introduction of our new service offering integrated intelligence has the power to improve quality, speed and understanding of the subsurface.  What better way to celebrate its release than a brand uplift”.

“Our new look marks a new era at Geoteric.  I’m extremely proud of our team’s enthusiasm, drive and commitment which has resulted in the delivery of our ground-breaking service offering.  The evolution of the Geoteric brand not only further differentiates us, but showcases our best assets – our people, our product and our promise”.

“Over the coming months we will be working with clients to deliver service projects demonstrating the power of our new workflow, integrated intelligence.”

Geoteric’s AI platform integrated intelligence was unveiled today to attendees at a launch event at the EAGE Annual Conference and Exhibition, London.

Fiona Ford, + 44 7884 373 430