HOUSTON, April 5, 2016 /PRNewswire/ -- Paradigm® (www.pdgm.com) today announced the availability of Reservoir Driven Production Risk Management (RD PRM), a combined software and services offering that integrates advanced rock, fluid and stress characterization to help users better understand how the reservoir changes with time. Targeted at asset managers, drilling and completion engineers and reservoir engineers, RD PRM leverages Dassault Systèmes' SIMULIA applications, powered by the 3DEXPERIENCE platform, and enables optimal production decisions while lowering operational risks.
"Dassault Systèmes and Paradigm bring unique technology and expertise to the partnership," said Arshad Matin, President and CEO of Paradigm. "Dassault Systèmes brings decades of experience in advanced modeling, engineering and simulation in multiple industries built on the SIMULIA Abaqus Unified FEA suite. Paradigm is the recognized leader in delivering high science software solutions to the upstream oil and gas industry. The partnership enables the companies to focus on some of the most pressing problems our customers face to optimize production while lowering cost."
The initial offering will focus on the following key challenges:
- Optimize Completion Strategies in Unconventionals: With falling rig counts and a growing backlog of drilled, but not yet completed wells (DUC) in shale plays, operators are increasingly focused on identifying the best strategies for refracking existing wells or building more optimal fracking strategies for DUCs. The offering will help operators identify these strategies as part of their completion plans.
- Anticipate Fault Reactivation: Producing hydrocarbons from highly stressed faulted reservoirs either through primary depletion or enhanced recovery production can result in unanticipated fault reactivation, leading to potential material impacts, loss of production and possibly the reservoir itself. By integrating a high fidelity geological model with state-of-the-art geomechanical simulation, customers can optimally manage their reservoir and control production risks.
"The initial focus area for the partnership will be on the unique challenges of oil and gas operators," said Scott Berkey, CEO, SIMULIA, Dassault Systèmes. "However, proven subsurface intelligence and models can be applied to multiple industries. With Dassault Systèmes' experience in providing industry solutions that improve decision making in many areas, including mining, geothermal, urban planning and defense, we have started exploring how Paradigm's subsurface intelligence can impact other industries."
Paradigm (www.pdgm.com) is the largest independent developer of software-enabled solutions to the global oil and gas industry. Paradigm easy-to-use technology and workflows provide customers with deeper insight into the subsurface by combining leading-edge science, high-performance desktop and cluster computing, and scalable data management, delivering highly accurate results and productivity without compromise.
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