iQx by AGR Software: Drilling Without the Drill: Streamlining Stochastic Methods for Well Planning
18 Feb 2025
IPTC Theatre (Hall 5, Ground Level)
Exhibition Seminar
Traditional time and cost estimation methods in drilling operations are often error-prone and inefficient, hindering accurate risk assessment and decision-making. We present an advanced collaborative platform that leverages modern cloud-based technologies to transform well project management. This platform employs stochastic Monte Carlo methods and automates complex tasks. reducing human error and increasing drilling engineers' productivity. By harnessing historical data, the platform models a wide range of potential outcomes, enabling engineers to prepare for various scenarios. With features including seamless collaboration, scalability, an open API, and real-time data access, our solution sets a new standard for reliability and innovation in time and cost estimation and risk assessment.