HOUSTON (PRWEB) May 18, 2021
Today Pan American Energy Group (PAEG) and Tachyus announced the signature of an agreement to extend the use of Data Physics, a technology developed by Tachyus, to optimize the oil production of PAE assets in Argentina. Tachyus Corporation is a leading Silicon Valley company specializing in combining traditional reservoir modeling, data physics and artificial intelligence. Pan American Energy Group is the leading integrated energy company in the region and the main oil and gas producer, employer and investor in the private sector in Argentina. PAEG also operates in Uruguay, Paraguay, Bolivia and Mexico.
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, a combination of reservoir physics and artificial intelligence. PAEG will use this technology to model and optimize production in their assets in Argentina.
“We are excited to continue and expand our partnership with PAEG in Argentina. For the last two years we have worked together piloting the application of Tachyus technology; the renewal of this commitment is a validation of the value that has been created by us working together and shows us that we are on the right path” said Carlos Calad, SVP Business Operations at Tachyus
Dario Baldassa, Executive Manager of Reserves Development expressed PAEG’s expectations in the application of the technology: “We have applied the Tachyus technology in a pilot test that represents one of our waterflooding projects obtaining satisfactory results. We want to expand the technology in other projects, with different characteristics, to continue analyzing the optimization capability of this novel tool”.