NewMed Energy Partners with GeoIntelX to Boost Gas Exploration via AI
NewMed Energy has partnered with GeoIntelX to integrate AI-powered geospatial analytics, accelerating natural gas exploration and subsurface data processing.
NewMed Energy, the natural gas giant controlled by billionaire Yitzhak Tshuva, and GeoIntelX have announced a collaboration to enhance natural gas exploration and production capabilities at NewMed Energy assets using GIX, GeoIntelX's geospatial data and analytics platform.
AI-Powered Geospatial Integration
As part of the collaboration, GeoIntelX deployed an AI-based platform to process and enrich NewMed Energy's extensive databases across two of its projects. The database covers a wide range of professional and technical fields, ranging from subsurface data, production, and facilities to environmental and regulatory materials.
Since the launch of the first phase of the project, NewMed Energy has identified an improvement in the efficiency and depth of insights derived from the data. The digitization, centralization, and organization of the database make it possible to make more efficient and comprehensive use of knowledge accumulated over the years and currently existing information, combining it with advanced AI analysis capabilities.
"The GeoIntelX solution proved to be significantly better than other AI solutions we examined. Centralizing and making all information accessible allows us to extract new insights from both current data and data accumulated over the years," said Cole Karch, VP of Exploration at NewMed Energy.
Accelerating Geological Analysis
Karch added that the company's teams can now ask more complex geological questions and receive high-quality, meaningful answers within minutes instead of days or weeks. This accelerates analysis processes and optimizes decision-making while significantly reducing the fear that information and knowledge accumulated within the organization over the years will be overlooked.
Using machine learning (ML) processing algorithms, GeoIntelX digitally organized and enriched NewMed Energy's data, transforming it from a collection of static, separate files into a dynamic geospatial data layer. All data included in the first phase of the project was consolidated and made accessible through the GIX platform.
"The implementation of advanced AI solutions like ours at NewMed Energy is an excellent example of how industry-leading companies are shaping the future," said Gilad Hoshen, co-founder and CEO of GeoIntelX.
