Earth Science Analytics – New Cluster Member
Norwegian company with world leading AI software for geoscience.
Earth Science Analytics (ESA) is a Norwegian software technology company established in May 2016 by Eirik Larsen, Behzad Alaei and Dimitrious Oikonomou, a strong team with many years of experience within Exploration and Production and software development.
ESA is spearheading the development of the next generation geoscience software based on artificial intelligence, physics- and data-driven approaches.
Faster, Cheaper and More Accurate
ESA’s proprietary software package EarthNET, is a modern cloud-native application that allows faster, cheaper and more accurate prediction of rock and fluid properties in the subsurface. This leads to greater profitability and higher success rates for oil and gas exploration, development and production.
New “green” sub-surface businesses including carbon capture and storage, geothermal development and underground energy storage will also greatly benefit from the use of ESA’s data-driven and cutting-edge technology.
- Using our software solution EarthNET geoscientists experience huge change in the way of working. As an example, seismic interpretation tasks that will typically take 3 weeks to complete with traditional methods and software have been completed repeatedly with EarthNET in 3 hours, says CEO Eirik Larsen.
Improved Prediction Quality and Workflow
The users will also experience improved prediction quality by utilizing all subsurface data available and discovering new and valuable insight hidden in the data, and by better quantification of uncertainty.
The workflow is also greatly improved by removing much of the manual effort. Removing organisation silos ESA's software enables multi-user access and collaboration, data/knowledge sharing and integration across scientific disciplines, ensuring maximum benefit from the available resources.
– Our solutions lead to cost reductions through increased efficiency, less use of expensive human resources, coring, logging and analysis equipment, and by drilling fewer unsuccessful wells. New investment opportunities can be identified, and their risk and uncertainty are quantified through integrating disciplines and data types and exploiting all relevant data, Eirik Larsen adds.
Subsea Upcoming Company of the Year
ESA was awarded Subsea upcoming company of the year 2018 by Sparebanken Vest, UTF and GCE Ocean Technology in 2018 and they recently closed a successful 75 MNOK series B funding round.
The funds will allow ESA to continue developing its unmatched cloud based geoscience software to the next level as well as expand its presence across the world.
Photo: The Subsea Upcoming Company of the Year Award was handed out by Sparebanken Vest, UTF and GCE Ocean Technology under the Underwater Technology Conference in Bergen, June 2018.
- We are proud to have Equinor Ventures, Wintershall Dea Technology Ventures and Sumitomo Corporation, as our new investors. They are not only investing but also actively working to get the most out of the technology within their different business areas. This will form a good basis for scaling, says CFO Jarle Kvamme.
The three new investors join Saudi Aramco Energy Ventures who first invested in the company in 2019.
ESA became a member of the GCE Ocean Technology cluster in August 2020.
Earth Science Analytics (ESA) is a Norwegian software technology company established in May 2016 by Eirik Larsen, Behzad Alaei and Dimitrious Oikonomou, a strong team with many years of experience within Exploration and Production and software development.
ESA became a member of GCE Ocean Technology in 2020.
