Emerson announces agreement with IPRES

Complementary IPRES software brings sophisticated financial analytics to enhance recovery and improve production forecasting

Stavanger, Norway (November 1, 2016) — Emerson Automation Solutions today announced a business collaboration with IPRES (Integrated Petroleum Resource and Economic Service), an international company based in Norway that provides advanced software tools and services to the upstream oil & gas industry. 

Under the terms of the agreement, Emerson will sell IPRES’s flagship solutions IPRISK® and IPRESOURCE® to its existing and prospective customer base. Both solutions are highly complementary to Emerson’s Roxar reservoir management software portfolio and will provide operators with sophisticated tools for economic risk analysis, predictive project modeling, and reserves and resource reporting.  IPRISK and IPRESOURCE can also be combined with the Roxar Big Loop™ solution, an automated workflow that integrates static and dynamic reservoir modeling, to provide a comprehensive economic management solution.

“With the need to secure strong returns from assets and the current focus on the bottom line, it’s become more important than ever for operators to identify the right ways of spending their money and understand the impact of their upstream investment decisions on cash flow, reserves and future production,” said Kjetil Fagervik, vice president of product development and marketing of Roxar Software Solutions, Emerson Automation Solutions. “That’s why the collaboration with IPRES is the perfect fit, combining our industry leading reservoir management software with sophisticated financial analytics that will enable operators to enhance recovery, improve their production forecasting and unlock the true value of their assets.”

Both IPRISK and IPRESOURCE are easy to set up and configure, can be customized according to existing reservoir management databases, and can work seamlessly alongside Emerson’s reservoir modeling software, Roxar RMS™; reservoir simulation software, Roxar Tempest™; and production management system, Roxar METTE™.

IPRISK is a stochastic tool and risk-based valuation system – available for both the field and the well – that evaluates all risks, scenarios, uncertainties and economics at every stage of the field development lifecycle. IPRISK provides for flexible well or field development planning, fast economic analysis, and a consistent approach to uncertainty and risk management. Document planning and design workflows also come with cash flow projections.

IPRESOURCE is a corporate asset management tool for managing reserves, resources, reporting and production forecasting for financial and government bodies. IPRESOURCE uses a relational database for data storage and data management, with a central repository for reports and improved corporate production forecasting. This enables users to store and retrieve current and historical data on production, reserves, contingent and prospective resources as well as track the maturation of resources to reserves on all upstream investment projects. The result is increased project, portfolio and shareholder value for operators.

The Roxar seismic to simulation solution helps operators make informed decisions across the prospect lifecycle on where to drill, what production strategies to adopt, and how to maximize oil & gas recovery from their assets.

IPRISK Case Studies – Well & Field Case Studies

IPRISK well case studies  

read more

IPRISK field case studies

read more

IPRESOURCE Case Studies – Reserves Management & Forecasting

IPRESOURCE Case Studies:

New Reserves Management Reports Linking Reserves to Projects Timeline. Read more

Read the SPE-article: Upstream Project Values

SPE_article_2014Read the article in SPE, Issue 3_1 September 2014:

Arvid Elvsborg, Managing Director IPRES & Lars Rustad, Senior Consultant IPRISK:

“At the SPE Finance Seminar 4th June we presented some highlights from the use of IPRISK to show how a systematic stochastic approach to decision support secure optimised results compared to the more traditional deterministic methods.
Read the complete article

IPRISK v 4.2

The new updated IPRISK FIELD v 4.2 is available now.

Read a presentation of IPRISK Field 4.2 – latest release highlights.

SPE – Annual Financing E&P Companies and Projects on NCS workshop

4th June 2014

SPE Oslo Annual Seminar – sponsored and hosted by PwC and Oslo Børs – will this year focus on the financing of E & P companies and projects on the Norwegian Continental Shelf.

IPRES will be there and Olav Øvreberg will give a presentation under the title ”Upstream Project Values, Farm -in, Farm-Out, data room”.

You can see the presentation here

To read more about this event, please visit SPE.


FORCE – EOR Process Modeling Workshop

26TH May, Stavanger

The objectives are:

• Increase knowledge and share experiences for EOR process modeling using conventional reservoir simulators
• Disseminate new technologies and ideas from the latest R&D
• Establish EOR professional network across company boarder

IPRES is attending this workshop, and Tor Andersen will give a presentation under the title “General integrated work process for economic evaluation of IOR/EOR projects”.

IPRES Force EOR Presentation – 26th May 2014

NPD seminar – Stavanger 2013

NPD seminar, Decision making under uncertainty, Stavanger 28.Oct.2013

IPRES will give a seminar for the Norwegian Petroleum Directorate.
Olav Øvreberg, Erlend Glømmen and Sverre Tresselt will be there.

Global Reserves Summit 2012

IQPC-Global Reserves Summit, 29-31Oct. 2012

This year’s Global Reserves Summit focuses on unconventional reserves reporting, thorough in-depth discussions on reserves estimation techniques and best practice on the evaluation and auditing of reserves. Come see our IPRESOURCE Manager, Tor Andersen, give a presentation on Addressing Uncertainty in Reservoir Simulation.

Read the presentation: IQPC 2012 Uncertainty in Res  Sim  – Tor Andersen

Microsoft Silver Partner

IPRES is now officially a Microsoft ISV Silver Partner. The Microsoft Partner Network gives software developers opportunities to distinguish themselves on the market by earning silver and gold competencies. We will have excellent access to the latest Microsoft technology and will be given special sales and marketing resources.
Microsoft Silver Partner To be Silver Partner IPRES had to show Microsoft that:

·         customers like the products ‒ by giving references to Microsoft
·         our products meet Microsoft standards ‒ by passing certain Microsoft tests

Our development team attends frequent training to learn about new technologies and practices.
To read about Microsoft and their Partner Network you can visit www.microsoft.com