ENOVATE UPSTREAM ANNOUNCES STRATEGIC PARTNERSHIP WITH LATIN AMERICAN DIGITAL GIANT MOVISTAR EMPRESAS

09/17/2020

ENOVATE UPSTREAM ANNOUNCES STRATEGIC PARTNERSHIP WITH LATIN AMERICAN DIGITAL GIANT MOVISTAR EMPRESAS

HOUSTON, TEXAS – Enovate Upstream – a major innovation player in the oil and gas (O&G) industry – today announced it inked a deal to form a joint partnership with Movistar Empresas and its business unit LUCA. The unique alliance allows O&G customers the ability to increase productivity, cut costs and decrease the industry’s environmental impact while giving them full access to essential digital infrastructure elements, including cyber security, cloud technology and data management components.

The ADA AI™ Digital Ecosystem created by Enovate Upstream is the first cloud-based platform that can be used for all upstream operations. Thanks to its newly formed partnership with Movistar Empresas, the Enovate platform will be deployed through a next-generation communications enterprise focusing on the highest standards in data management, cyber security, and a world-class communications infrastructure. For its part, Movistar Empresas will significantly expand market share in O&G by incorporating Enovate Upstream’s physics-based artificial intelligence methodology into their extensive customer portfolio.

The combined expertise of the two entities will allow customers to streamline data in a safe, manageable, and easily accessible way while increasing production at reduced operational costs. “We have one of the best Big Data, Analytics and Artificial Intelligence units in the world with LUCA, and this alliance represents important steps in significantly contributing to the digital transformation of the industry with the best technology currently available in O&G,” said Telefónica Movistar B2B Director Carolina Navarrete.

The union of these organizations – coupled by rising a demand for digital automation during a global pandemic – created a necessity and opportunity to advance this digital transformation, explained Enovate Upstream CEO Camilo Mejía. “The partnership with Movistar Empresas will accelerate the adoption of physics-based artificial intelligence for remote operations and automation while ensuring high standards for data management and cybersecurity,”.

The result is a formidable blend of the latest in innovative O&G technology with the security and infrastructure essential to the successful operations of O&G companies seeking to be on the cusp of the inevitable digital curve. Customers who secure solutions through the collaboration of these organizations will receive much-needed improved access to big data components; these novel solutions will benefit customers across the entire chain of upstream operations.

As the industry strategizes and adapts to post-COVID realities, the need to deploy technology remotely and automate operations has suddenly become an essential component for survival and growth. The unique partnership between Enovate and Movistar will greatly facilitate the adoption of digital technologies that allow for and simplify those remote deployments and automations.

The ultimate benefit from this cutting-edge union will exist due to the integrated teams from Enovate Upstream and Telefónica Colombia working side-by-side in a combined effort to rapidly advance the kind of innovation needed for growth, expansion, and customer-focused solutions across the entire O&G industry. 

ABOUT ENOVATE UPSTREAM

Enovate Upstream is the only business hybrid technology company that is operated by experienced executives and research leaders from the oil and gas (O&G) industry. The company was founded to transform the industry through digitalization with a mission to improve efficiency while increasing production and profits regardless of market conditions. The company’s state-of-the-art, cloud-based ADA AI™ platform is the only one of its kind in the industry that uses artificial intelligence at every stage of the upstream value chain. ADA AI™ is intuitive, flexible, reliable and tailor made to meet customers’ needs.  Enovate Upstream developed the ADA AI™ Platform to provide O&G companies with reliable decision-making tools using scientific, engineering, and financial data – providing capital efficiency and production enhancement at every stage of the well from drilling, completion to production. The ADA AI™ Platform also works to reduce carbon emissions throughout the value chain. For more information on Enovate Upstream, please visit http://www.enovateupstream.com/

ABOUT TELEFÓNICA

Telefónica is one of the biggest drivers of the digital economy in the country, with revenues of COP 5.7 trillion in 2019. The activity of the company, which operates under the Movistar brand, is mainly focused on mobile telephony and connectivity, broadband services, home fiber optic, satellite television, fixed telephony and the offer of digital solutions for small, medium and large companies and corporations. Telefónica is present in 245 municipalities with fixed broadband, 953 with mobile telephony and 4G LTE (422 with own network and 531 with RAN). Likewise, it offers fixed telephony in 748 municipalities. Telefónica closed 1Q20 with a customer base of 19,1 million: 15,9 million mobile lines, 1,2 million broadband customers, 532 thousand digital satellite TV and 1,5 million fixed lines in service. For more information on Telefónica, please visit https://www.telefonica.com/en/.