Today GeoPark (NYSE: GRPK) and Tachyus announced the signature of a agreement to use artificial intelligence technology developed by Tachyus to optimize the oil production of GeoPark waterflood assets in Argentina. Traditional waterflood monitoring and optimization can take months whereas the Tachyus solution can accomplish the same job in a matter of days using Data Physics and a combination of traditional reservoir modeling with artificial intelligence. GeoPark is a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Ecuador, Chile, Brazil, and Argentina.
Hernan Bloise, GeoPark Corporate Asset Manager said, “We are optimistic about Tachyus technology and we think that it will provide us with the right tools to achieve our modeling and production optimization targets.”
As part of the agreement, Tachyus will provide Aqueon, its SaaS (Software as a Service) technology for Waterflood Management and Waterflood Optimization powered by Data Physics. GeoPark will use this technology to model and optimize production in an asset in Argentina.
“We are excited to have the opportunity to partner with GeoPark and provide the tools that will model and optimize their operations. Our experience in Argentina with other operators has been very positive as we have been able to model and optimize fields in very challenging geological and operational conditions; we look forward to leverage these experiences in our engagement with GeoPark,” said Carlos Calad, SVP Business Operations of Tachyus
Tachyus Corporation is a leading Silicon Valley company with offices in Houston, TX specializing in oilfield solutions using Data Physics and a combination of traditional reservoir modeling with artificial intelligence.
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