Earth Science Analytics, a Stavanger, Norway-based petroleum geoscience software provider, raised USD8.54M in funding.
Backers included Equinor Ventures, Wintershall Dea Technology Ventures and Sumitomo Corporation. They are joining Saudi Aramco Energy Ventures, who first invested in the company in 2019.
The funds will allow the company to continue developing its cloud based geoscience software to the next level as well as expand its presence across the world.
Led by Kjell-Erik Østdahl, Chairman, Earth Science Analytics is a provider of a petroleum geoscience software platform based on artificial intelligence, physics- and data-driven approaches. Its proprietary software package EarthNET is a cloud-native application that allows accurate prediction of rock and fluid properties in the subsurface. This leads to greater profitability and higher success rates for oil and gas exploration, development and production.