SLB (NYSE: SLB) today announced an investment and technology partnership agreement with Geminus AI, which will provide SLB exclusive access to implement the first physics-informed artificial intelligence (AI) modeler for operations in the oil and gas sector. The Geminus modeler combines physics-based approaches with process data to create high-precision AI models that can be deployed at scale, much faster, and at a significantly lower cost compared to traditional AI approaches.
“The investments made by SLB through its partnership with Geminus AI deliver significant operational performance improvements to customers, from production pipelines to facilities,” said Rakesh Jaggi, President, Digital and Integration, SLB. “Geminus’ ability to combine AI techniques with physics-based simulation data will enable customers to quickly and easily create hybrid models of their operational assets that can be optimized in real-time for a variety of outcomes, such as reducing operational expenses Increasing productivity and minimizing carbon dioxide emissions.”
The Geminus platform uses novel, physics-informed data processing to transform constraining constraints from the physical world into digital models. It requires only a small amount of data and the models can be easily updated by adding new data points. Data scientists and modeling engineers can use the platform to predict the behavior of complex systems and make informed decisions in real time.
“We view our partnership with SLB as an invaluable resource for creating value in the energy sector,” said Greg Fallon, CEO of Geminus AI. “With thousands of oil and gas processing facilities and the complex well networks of hundreds of different customers, SLB’s relationships and reach will be valuable to us helping to significantly increase our customers’ efficiency and productivity.”
In a customer use case, SLB delivered a hybrid AI-powered application of Geminus to optimize economic performance while reducing carbon dioxide emissions at a natural gas plant. The application, built using Geminus’ physics-informed AI solution, was trained using data from SLB’s Symmetry™ process simulation software. Its development – including the underlying hybrid AI model – took just a few days. It is capable of evaluating 20,000 complex scenarios in less than a tenth of a second. With this application, operators can interactively examine the effects of changed process settings on the system’s carbon footprint and yield. In other use cases, the technology has significantly increased the efficiency of fluid catalytic crackers – the heart of an oil refinery – and improved the performance of electric submersible pumps and industrial wellsite chokes.
About SLB
SLB (NYSE: SLB) is a global technology company driving energy innovation for a sustainable planet. With a global presence in over 100 countries and employees from nearly twice as many countries, we work every day to innovate in the oil and gas sector, to digitize at scale, to decarbonize industry, and to develop and scale new energy systems that accelerate the energy transition. For more information, visit slb.com.
About Geminus AI
Founded to pioneer artificial intelligence (AI) in the physical world, Geminus leverages cutting-edge AI techniques to create innovative models for real-time optimization and automation of industrial systems. Find out more at www.geminus.ai.
Cautionary Note Regarding Forward-Looking Statements: This press release contains “forward-looking statements” within the meaning of the federal securities laws. These are statements about the future, not about the past. Typical of these statements are phrases such as “expect,” “could,” “can,” “estimate,” “intend,” “predict,” “will,” “potential,” “planned” and similar phrases. Forward-looking statements address matters that are subject to varying degrees of uncertainty, such as projections or expectations regarding the use or expected benefits of SLB’s new technologies and partnerships, statements regarding objectives, plans and projections with respect to sustainability and environmental issues, predictions or expectations with regard to the energy transition and global climate change as well as improvements in operations and technologies. These statements are subject to risks and uncertainties, such as the failure to achieve net negative carbon emissions targets; the failure to realize the intended benefits of SLB’s strategies, initiatives or partnerships; legislative and regulatory initiatives relating to environmental concerns, including initiatives addressing the impacts of global climate change; the timing or receipt of regulatory approvals and permissions and other risks and uncertainties detailed in SLB’s most recent Forms 10-K, 10-Q and 8-K filed or furnished with the Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or if the consequences of such developments change), or if underlying assumptions prove incorrect, actual results may differ materially from those reflected in our forward-looking statements become. The forward-looking statements speak only as of the date of this press release and SLB disclaims any intention or obligation to publicly revise or update any statements made herein, whether as a result of new information, future events or otherwise.
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