Paradigm, in partnership with Dassault Systèmes, has launched reservoir driven production risk management (RD PRM), a software and services offering to help oil and gas companies predict reservoir behavior.
The RD PRM integrates advanced rock, fluid and stress characterization to help users such as asset managers, drilling and completion engineers and reservoir engineers to better understand the changes in the reservoir and optimize field development.
Paradigm president and CEO Arshad Matin said: "Dassault Systèmes and Paradigm bring unique technology and expertise to the partnership.
"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."
Based on Dassault Systèmes’ Simulia applications powered by the 3DExperience platform, the RD PRM is expected to help in taking optimal production decisions while lowering operational risks.
Paradigm said that the initial offering will focus on challenges of oil and gas operators which including optimize completion strategies in unconventional and anticipate fault reactivation.
Dassault Systèmes Simulia CEO Scott Berkey said: "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."
Image: Illustration of Hydraulic fracture characterization for refracking analysis in shale reservoirs. Photo: courtesy of Paradigm.