We believe that the combination of hard-core science and technology with an unwavering dedication to challenging the status quo is the only way to change our industry – and even the world – for the better. In the age of quick-fixes and the “fail-fast” mentality, our story is about long-term commitment to cultivating deep knowledge while thinking differently. This belief lies at the core of how we have created the world’s first AI for production optimization in the oil & gas industry.
We are scientists and technologists at heart, and unsurprisingly our story began in the dusty halls of the cybernetics department of the Norwegian University of Science and Technology (NTNU). It was still early days of the fourth industrial revolution; 2007 was the year of the first iPhone, Facebook had just launched the year before and Uber was still two years out. Few were yet to talk about big data and machine learning on a large scale. At the same time, a little-known PhD student by the name of Vidar Gunnerud and his professor Bjarne Foss started questioning the existing physics-based simulators as the basis for petroleum production optimization.
“Why not connect to the field data directly” soon became our mantra, and spurred us on a mission to unlock live production data from its confines and use it more extensively. Years of research and development at NTNU combined with access to the industry, made us believe we were really on to something. As a result, Solution Seeker was established in 2013.
Luckily, we obtained our first visionary partners, ConocoPhillips and Neptune Energy (previously GDF Suez), in early 2014. We moved to the basement in Oslo Science Park, dug into the work and sped up our testing and development. Wintershall and Lundin joined our efforts, and we were able to keep digging, learning, pivoting and developing through the oil industry downturn of 2015-2016.
Our product, ProductionCompass AI, started taking shape. The idea of our Compass has always been to create a solution that points out the direction of increased production. We have filled it with solutions to use-cases in deep collaboration with the production teams we want to support. And when we come up against difficult and complex production challenges, we refuse to throw in the towel – in direct opposition to the popular “fail fast” mentality. Instead, we dig our heels in and dedicate even more effort to developing new technologies, leveraging recent advances in big data and machine learning algorithms.
The answer to our industry downturn has been effectivization and digitalization, creating a large demand and opportunity for niche deeptech companies like us. In 2018 we were chosen as Aker BPs partner on production optimization, working alongside Cognite in the Data Liberation Front. There is huge potential for increasing production through better utilization of existing data streams.
We are growing and our next step is internationalization. The future looks bright, and we are excited to keep writing our story in the name of hard-core science and innovation.