Emerson Automation Solutions, with locations throughout North America, has announced a business collaboration with IPRES (Integrated Petroleum Resource and Economic Service), an international company that provides advanced software tools and services to the upstream oil & gas industry. Under the terms of the agreement, Emerson will sell IPRES’s flagship solutions, IPRISK and IPRESOURCE, to its existing and prospective customer base.
IPRISK is a stochastic tool and risk-based valuation system—available for both the field and the well—that evaluates all risks, scenarios, uncertainties and economics at every stage of the field development lifecycle. IPRESOURCE is a corporate asset management tool for managing reserves, resources, reporting and production forecasting for financial and government bodies.