Emerson acquires Norwegian technology firm
Move signals company's intent to strengthen its upstream capabilities
Emerson Process Management said on Thursday it has acquired Norwegian company Yggdrasil, a provider of flow assurance and production optimisation software, as the US-based technology expert looks to strengthen its upstream capabilities.
Emerson said it will incorporate Yggdrasil’s METTE production optimisation product into the Roxar reservoir management software portfolio, designed to provide oeprators with an integrated workflow from seismic interpretation and reservoir modeling to reservoir simulation and production optimisation.
The combination of data from predictive reservoir models, production modeling and field instrumentation will enable operators to monitor production continuously and use information from the field when forecasting future reservoir performance and making operational decisions, the technology expert said in a statement.
“This integration will help our customers align their modeling, uncertainty quantification and simulation data with production; optimize their field development and production plans; and increase oil and gas recovery in today’s challenging environment,” said Kjetil Fagervik, managing director of Emerson’s Roxar Software Solutions.
“With this acquisition, Emerson is widening our software portfolio to ensure better decisions and better asset returns.”