Invasystems to Adopt Falkonry’s “Ready to Use” Machine Learning System for Digital Oilfield Applications

• Invasystems will leverage FalkonryTM LRS to
  provide predictive analytics that can help their oil and gas customers
  reduce OPEX and increase production.
• Falkonry will be at the upcoming ARC Industry Forum to discuss how
  machine learning is reducing downtime and improving throughput in
  industrial operations.

SUNNYVALE, Calif.–(BUSINESS WIRE)–#IndustryARC—Falkonry,
Inc., a leading provider of operational analytics for Global 2000
industrial companies, today announced it has signed a memorandum of
understanding (MoU) with Invasystems,
a Texas-based industry solution provider that brings together data
analytics and first principle (physics) based software solutions to
better manage the value chain for clients.

Digital
Oilfield applications leverage the capital investments in field data
collection that oil and gas companies have already made.
These investments include deploying more sensors, installing SCADA
systems and storing the data in a historian. While traditional
approaches, such as exception-based surveillance, can proactively manage
oil and gas assets they are not as effective at predicting failures.
Machine learning can help identify many issues which are not easy to
predict using conventional steady-state or transient models, especially
for thousands of wells.

As part of their agreement, Invasystems will adopt the Falkonry
LRS machine learning system and empower well operation engineers to
predict equipment and system failures. This will help oil and gas
operators reduce downtime and increase production by detecting patterns
and conditions in existing operations data.

Comments on the News:

• “We look forward to using Falkonry as part of our comprehensive suite
  of software that drives productivity gains right from the reservoir to
  the refinery stage for our oil and gas clients,” said Dr. Ashok Dixit,
  SVP of Oil & Gas at Invasystems. “Falkonry’s machine learning system
  enables field engineers to determine the corrective action to take,
  without the need for data scientists.”
• “Falkonry LRS provides predictive insights from the time series data
  that already exists within production operations,” said Dr. Nikunj
  Mehta, Founder and CEO of Falkonry. “Our relationship with Invasystems
  will help their clients derive value from predictive analytics sooner,
  with minimal risk and little upfront cost. Resource constrained teams
  can build upon the rapid learnings and equip their operations to
  pursue Digital Oilfield, Smart Plant and Smart Factory initiatives.”

ARC Industry Forum

• Falkonry will be at the ARC
  Industry Forum in Orlando on Feb. 12th – 14th.
• Falkonry will discuss how pattern recognition and machine learning has
  been shown to significantly reduce downtime and improve production
  throughput in industrial operations.
• Industry use
  cases include automotive, semiconductor, oil & gas, and metals &
  mining.

About Invasystems

Invasystems builds point solutions using advanced data analytics and
mobility for different industries including oil & gas, power and process
equipment manufacturing, to help augment client’s digital adoption
journey. For more information, please visit www.invasystems.com

About Falkonry

Falkonry is a leading provider of operational analytics for Global 2000
industrial companies. Falkonry’s ready-to-use machine learning system
empowers practitioners to accelerate the digital transformation of
industrial operations by delivering new analytical insights from
patterns hidden inside operational data. Our customers, who span
multiple industries and applications, are realizing improvements in
throughput, quality and yield. For more information about Falkonry and
its products, please visit http://falkonry.com/.

Contacts

Powelson Communications, Inc. for Falkonry
Erika Powelson,
408-781-4981
[email protected]