Asset management solutions provider mCloud Technologies has signed a ‘mutual reseller and global service agreement’ with artificial intelligence (AI) technology firm nybl in a bid to help oil and gas producers optimise their well output.
Under the agreement, the two firms will jointly develop a solution that will connect and optimise an initial 2,000 oil wells in North America and Kuwait.
mCloud noted that the cooperation of the well optimisation solution is currently underway.
In order to deliver complete asset optimisation solutions to oil and gas operators across the world, the two firms will initially target more than one million oil and gas wells that employ artificial lift technology, such as electric submersible pumps and plunger lifts, in Western Canada, the US, and the Middle East.
According to the asset management solution provider, nybl’s lift.ai and mCloud’s AssetCare platform will jointly provide oil and gas well operators with an integrated solution that uses AI to ‘eliminate unplanned outages’.
The integrated solution will also constantly monitor the lift equipment at ‘every connected well’.
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By GlobalDatanybl CEO Noor Alnahas said: “By combining forces, mCloud and nybl will be able to assist oil and gas customers all around the world.
“Our joint solution will enable operators to see benefits in excess of $200,000 per connected well annually.”
Through the partnership, mCloud will obtain exclusive licensing rights to nybl’s lift.ai technology in North America.
nybl’s technology will become part of mCloud’s AssetCare platform for ‘connected industry’.
mCloud growth and revenue officer chief Costantino Lanza said: “We could not be more excited about teaming with nybl to further enhance the AI capabilities we bring to new and existing AssetCare customers.
“Our companies complement each other on all fronts, and our teams are already engaging with additional customers to bring our joint capabilities to specifically targeted oil wells all across North America, with connections to commence in the second half of 2020.”
