As a deep-AI product conceived at the global big-data consulting behemoth, Fractal Analytics, Eugenie is often described as a mysterious data analytics company. While there’s some truth to this, we hope to leverage this blog medium to be more open about our business.
Since 2019, we’ve built robust data-driven AI models that have been tested and chiseled in real-world scenarios with some of the largest midstream and upstream oil and gas giants in the US and India. Given the confidential nature of these pilot deployments, our lips were sealed tight due to rigorous NDAs. This left us with little choice but to remain silent about our work, even as prospective users of our solutions continued to want to dig deeper into our offerings and their utility to the oil and gas sector.
Now that our products are beyond the testing and validation phase to the extent that we’re confident of having achieved a product-market fit, we have the opportunity to be more open. People in the oil and gas industry and beyond have a right to understand how Eugenie’s technology works, and how our customers use it.
Let’s start by addressing common misconceptions – Eugenie cannot and does not use or transfer client’s confidential operational, throughput, and machine-performance data for its own benefit, nor can Eugenie join data from different clients together to sell on. That isn’t how we operate. In this blog post, we’ll explain more about the nature of Eugenie’s business, which is focused on helping oil and gas companies reduce greenhouse gas (GHG) emissions in a cost-feasible manner.
This blog post is the first in a series titled “Eugenie Sustainability Series”, which will explore a variety of topics related to sustainability in the oil and gas segment. We endeavor to make these blogs relevant and informative to you, and we welcome your feedback. If these blogs inspire you to join us in solving the mentioned challenges, check out our opportunities, to connect with us.
Eugenie’s business model
Eugenie is a software company
We use artificial intelligence for data-driven operations and decision-making. Our products act as connective tissue between an organization’s data sources, the integrity of such data sources, and the generated data. Eugenie’s platforms c tie these elements together by bringing the right data to the people who need it, enabling them to take and execute data-driven decisions, easily conduct sophisticated analyses, and refine operations through simplified data interpretation. We license this software to midstream and upstream oil and gas companies, who receive secure, unique, virtual instances of our platforms in which they can conduct their work on their own data.
Eugenie’s value proposition enables oil and gas companies to bring high-quality, verified data together to simplify complex decisions regarding hydrocarbon production levels, production quality, and production losses. All of which synthesize together to lower hydrocarbon production and storage losses resulting from unforeseen failures in critical and non-critical production equipment, ultimately helping to reduce GHG emissions. This is particularly valuable since production equipment and systems are fragmented, and essential information is held in silos that can’t uniformly communicate with each other.
One of India’s largest state-run oil and gas refiners used our solution to achieve $2B in notional savings from reduced vaporization-induced hydrocarbon losses, in addition to saving over 2 million metric tons of CO2-equivalent GHGs.
Eugenie works beyond oil and gas
While it’s true that we focus our marketing on the oil and gas sector and that most of our current customers come from that sector, the value derived from our software can be realized from a wide range of users, organizations, and regulators beyond the oil industry. Be it manufacturing, smart city, or renewable energy, our software, designed to work with IoT, IIoT, and other Industry 4.0 solutions, empowers organizations to better manage and interpret the data that they already produce and control. This data enables early, corrective, and prescriptive actions for more efficient management of resources, and reduction in production losses and wastage, all of which tie in together to reduce GHG emissions.
Last year, we detected chemical injection and cyber-attacks for a secure water distribution network with over 90% accuracy, which was a significant improvement against any other systems the distribution agency had tested. Eugenie also saved 5% monthly energy cost and 20% of the total annual maintenance cost at a major commercial building by improving the operational efficiency of their HVAC system. These examples are the tip of the iceberg when it comes to using anecdotes to explain to governments, regulators, and environmentalists how Eugenie can make factories, cities, and other industrial assets more profitable while simultaneously reducing their carbon footprint by lowering their GHG emissions.
Eugenie is committed to keeping organizations’ data secure
Given that our products are used in some of the most sensitive and secure information environments in the world, we necessarily follow world-class data protection and governance. Consequently, we boast an unparalleled information security record.
When it comes to customer data, we act as a data processor, not a data controller. Our software is deployed under the direction of the organizations that license our products: these organizations define what can and cannot, and should and should not be done with their data. They control the Eugenie accounts and instances in which analysis is conducted, and our engineers assist them to achieve their goals within their pre-defined workflows.
We do not and cannot transfer our clients’ data for our own purposes. Attempting this is illegal and will undermine the trust necessary for us to continue working in the sensitive, reputation-driven, global oil and gas industry.
Technology companies should be scrutinized, especially when their technology is used by governments. To that end, we hope this series of blog posts will provide readers with more insight into our business and a deeper understanding of some of the key features of our technology.
In our next post, we will start by defining sustainability, what it means to the oil and gas sector, and beyond. Please feel free to reach out to us at email@example.com.
To learn more about Eugenie, talk to us.