Apr20004 Recognised Leaders in Oil Field Analytics 2020 - USA Founded in 2016 by a group of uncompromising and innovative oil & gas upstream experts alongside data scientists with combined science- based and practical knowledge, the firm quickly established themselves as the industry leader in oil & gas intelligence solutions. To start, Melissa offers more insight into some of the firm’s specialisms and its existing client base. “Typically, we offer oil field reservoir intelligence, oil field development advisory, oil & gas reserves certification and oil & gas asset management intelligence. In addition, we can also assist with oil & gas asset transactions and energy market Intelligence while also being able to act as an oil & gas litigation expert witness.” “Since forming, we have managed to work alongside quite a varied client base with major clients including private oil & gas companies, national oil companies, financial institutes, energy investment companies and foreign energy regulators.” As one of the early companies deployed in data sciences and artificial intelligence, to stay at the forefront of the industry, the database OilGRID™ and the next generation intelligence engine NEXT-ai™ have advanced the oil & gas sector to a whole new level as Melissa confirms. “Our innovative and market leading technologies OilGRID™ and NEXT- ai™ have provided powerful analogies and machine learning seeds of our oil field intelligence and reserve certifications, so right from the beginning we have tried to be innovative in our ways.” The oil & gas advisory sector is an extremely competitive one to operate in, however as Melissa points out, NEXTOIL employees possess outstanding educational backgrounds which they often call upon to help deliver the most innovative and prominent services. “All of our staff have master degrees from prestigious institutes, and around half of them have doctoral degrees from top universities, so combined with their 20+ years’ experience of working in the oil & gas sector, we truly believe we have the personnel in place to help us continue setting the highest of standards.” Currently, the oil & gas industry is facing a number of different challenges including increasingly volatile oil prices, intensified global competition, the rise of disruptive technologies and more sophisticated environmental regulations. However, as Melissa goes on to explain, these challenges have brought a number of opportunities which NEXTOIL have been able to take advantage of. “Oil and gas has many legacy practices that makes data hard to work with. Data is stored in separate departments with incompatible formats, and with it not captured as an integral part of the business processes, there is little concern for anomalies or inaccuracies.” “As a result, NEXTOIL’s reservoir analytics + data science engine was specifically designed to tackle these legacy data issues by integrating clients’ existing data, performing leading-edge analytics, and then swiftly generating insightful intelligence and actionable solutions.” “Through the use of our innovative technology solutions clients can reduce costs to remain competitive under oil price volatility, improve performance to ensure of the valorisation of assets, improve the environmental footprint by increasing efficiency and decarbonisation and more effectively manage and optimise the life cycle of oil and gas resources.” The oil & gas industry has always made use of technology both in a physical and computational way, however in comparison to other industries it has been slow to adopt the latest digital technologies as Melissa explains further. “Only last year did we begin to see big waves of promoting digital transformation, helping oil and gas companies operate more efficiently while maintaining high safety and environmental protection standards. As a digital transformation advocator, NEXTOIL’s full spectrum TEC data intelligence services adopt combined physics-based and data- driven proprietary workflow and the NEXT-ai™ on-premises artificial intelligence engine to maximise clients oil field recovery and operational efficiency as well as investment returns.” Finally, Melissa comments on the factors which she believes were crucial in seeing the firm being awarded as Recognised Leaders in Oil Field Analytics 2020 – USA, and the future prospects of the firm. “Our next generation NEXT-ai™ intelligence engine and proprietary ROS™ & OilGRID™ platforms, alongside our top-notch advisers are bringing the upstream oil and gas sector a whole new concept of field development, reserves and investment optimisations. As our founder Dr. Allan Chen always proudly says, ‘No other companies provide such innovative and foremost services like NEXTOIL.’ ” “Having just announced a partnership with NUTECH energy Alliance, a leading reservoir characterisation and geological service company, we are excited for the future as this collaboration will pair NEXTOIL’s strength in reserves certification and intelligence with NUTECH’s reservoir characterisation and intelligence, providing all-in TEC services from G&G to engineering to economics and commercial. Company Name: NEXTOIL Contact Name: Melissa Luzardo Telephone Number: 888-745-1212 Address: 14511 Old Katy Rd, Suite 366, Houston TX 77079 USA Web Address: www.yournextoil.com Email:
[email protected] Based in Houston, Texas NEXTOIL Group is a seasoned boutique advisory firm specialising in Oil & Gas upstream. Following on from their success in the Oil & Gas Awards 2020, we got in touch with Melissa Luzardo to find out more.