Tachyus Announces Entrance to Brazilian O&G Onshore Market

PetroReconcavo signs a contract to adopt a solution to manage and optimize its waterfloods.

RIO DE JANEIRO, Jan. 9, 2024 /PRNewswire/ -- Tachyus, the leader in AI applications to oil and gas announces today a groundbreaking innovative partnership with PetroReconcavo, a Brazilian independent oil and gas company that has been operating onshore fields for more than 23 years, to implement Tachyus' cutting-edge waterflood modeling and optimization platform into its operations.

In this strategic venture, PetroReconcavo will leverage Tachyus' expertise to enhance the management and optimization of one of its key fields in the northeast region of Brazil. The adoption of Tachyus' state-of-the-art technology aims to revolutionize PetroReconcavo's waterflood operations, optimizing efficiency and maximizing production outputs. The collaboration will initially implement three modules, namely Strateon, for accurate subsurface allocation of injection and production, Aqueon, a cutting-edge solution to manage and optimize waterflood operations, and Trypion, to optimize infill drilling locations.

This partnership exemplifies PetroReconcavo's commitment to embracing cutting-edge technologies to stay at the forefront of industry innovation. As the first step in this transformative journey, PetroReconcavo and Tachyus are set to redefine the landscape of waterflood operations in Brazil, setting new standards for efficiency, sustainability, and productivity.

Fernando Gutierrez, CEO of Tachyus, expressed enthusiasm about the collaboration, stating, "We are thrilled to welcome PetroReconcavo as our first customer in Brazil. With the implementation of Aqueon, Trypion, and Strateon, we are confident in delivering measurable value and driving operational excellence for PetroReconcavo."

Walter G. Waes, Director of Technical Development at PetroReconcavo, shared the following reflection about this initiative, "I am excited about the prospect of exploring the use of AI in the study of mature oil fields to seek improvements in operational efficiency, maximize oil production and recovery factors, and enhance overall business profitability. The implementation of such cutting-edge initiatives also provides opportunities for the development of competitiveness and professional growth for the technical team. The defined work proposal with Tachyus is very promising, and I believe that this collaboration will strengthen our operations and create new opportunities for mutual growth".

About Tachyus: The Houston-based corporation is a leader in oil and gas modeling and optimization software. By combining traditional reservoir physics with machine learning and artificial intelligence, Tachyus provides predictive modeling and optimization products for its customers. Tachyus technology has been adopted by all types of oil operators, from small independents to super-majors across the five continents.

About PetroReconcavo: Founded 23 years ago, PetroReconcavo is an independent oil and gas operator company and one of the segment leaders in Brazil. The Company specializes in the operation, development, and revitalization of mature fields in onshore oil and gas basins. With a verticalized service structure, PetroReconcavo operates the main lines of field services with its own workforce, such as workover and drilling rigs, well well-stimulation units, among others. The Company operates a total of 56 concessions of oil and natural gas in Potiguar, Recôncavo and Sergipe-Alagoas Basins, more 8 exploratory blocks (5 in Recôncavo Basin and 3 in Potiguar Basin), in addition 2 concessions operated by partners.

SOURCE Tachyus