Earth Science Analytics AS, a Stavanger, Norway-based Artificial Intelligence petroleum geoscience software provider, raised a series A funding from Saudi Aramco Energy Ventures (SAEV).
The amount of the deal was not disclosed.
The company intends to use the funds to speed up product development and sales.
Led by Eirik Larsen, CEO, Earth Science Analytics provides cloud based petroleum geoscience software, database solutions and workflows based on artificial intelligence that enable accurate prediction of rock and fluid properties in the subsurface, and thus allow oil and gas exploration and production to be done with superior profitability rates.
Saudi Aramco Energy Ventures (SAEV) is the corporate venturing subsidiary of the world’s leading integrated energy and chemicals company, Saudi Aramco.