NNPC partners CypherCrescent to boost oil production
The Research & Development (R&D) Division of the Nigerian National Petroleum Corporation (NNPC), has sealed a strategic partnership with CypherCrescent Limited, to enhance oil and gas production using innovative technologies and optimised workflows.
The partnership is focused on the areas of petroleum engineering, research & development, hydrocarbon fluid characterisation, and production improvement through well & reservoir management (WRM) data democratisation.
CypherCrescent is a foremost Nigerian petroleum engineering research, software development and asset management support company with a global reach. The Company is committed to providing innovative and cost-effective business-intelligence solutions for exploration & production (E&P) companies, to enhance productivity across the hydrocarbon value chain.
The technical partnership came on the heels of the satisfactory application of SEPAL Software suite, a highly innovative end-to-end well & reservoir management (WRM) software in E&P companies for production enhancement. SEPAL is the first of its kind software in global E&P industry, designed to integrate data.
Enhance engineering analyses and optimise workflows across five core WRM disciplines (Reservoir Engineering, Production Technology, Petrophysics, Production Geology and Asset Well Engineering).
SEPAL enables E&P companies optimise production from existing assets by systemically identifying hidden intervention opportunities and improve on the success rates of well intervention activities. Also, with the robust data analytics capability of SEPAL, engineers can proactively manage well integrity challenges.
SEPAL as an integrated software improves general asset management efficiency, and therefore helps companies remain competitive, especially in times of dwindling oil prices. Reliant on its capability, the SEPAL software has been adopted as a solution, in the NNPC project for the classification of Nigeria’s natural gas liquids (NGLs) and gas condensates.
According to the Group General Manager (GGM), NNPC R&D Division, Dr. Bola Afolabi, “With minimal cost, remarkable additional production potential was discovered. We are talking about a digital approach to well & reservoir management. We are applying a first of its kind technology to easily reveal hidden opportunities and propose realistic well intervention programmes. We are seeking to improve the success rate of exploration and production well intervention activities, reduce operations and improve asset integrity, among others.”
Corroborating Afolabi’s position, the Managing Director of CypherCrescent, ThankGod Egbe, said by harnessing the expertise of world-class professionals in petroleum engineering, geosciences, computing and applied mathematics, the company is poised to continually add value to the global oil & gas industry through creative and unconventional solutions.
He reiterated that the strategic partnership with NNPC R&D will among other benefits, enable companies across the world to understand the dynamics of their assets better, and offer them a pragmatic and cost-efficient alternative to production optimisation from their existing assets.