Yandex Data Factory Signs Collaboration Agreement with Gazprom Neft

1 JUNE 2017

Gazprom Neft and Yandex Data Factory have agreed to start collaboration in developing big data analytics, applying machine learning and artificial intelligence to drilling and completion, as well as using these technologies to optimise other production processes. The agreement was signed at St. Petersburg International Economic Forum by Vadim Yakovlev, First Deputy CEO of Gazprom Neft, and Alexander Khaytin, Chief Operating Officer of Yandex Data Factory.

According to the agreement, the companies plan to provide independent review of technological solutions for the oil and gas industry, develop joint research, create joint technology projects, exchange scientific and technological information and train employees of both companies.

“The need to develop new categories of reserves requires cross-functional collaboration of experts in different fields, in addition to having to deal with large volumes of geological and technological information. Efficiency of our company today depends to a large extent on how well we are able to use modern information technology solutions. I am sure that collaboration with one of the market leaders in digital technology will let Gazprom Neft respond to the technological challenges the company is facing today in the best possible way,” commented Vadim Yakovlev, First Deputy CEO of Gazprom Neft.

“We are happy to see Gazprom Neft open to collaboration in this promising area. We expect that joining our effort will let us facilitate and speed up the adoption of new technologies in oil & gas, as well as giving Gazprom Neft new opportunities for growth and development. With large amounts of data in oil and gas accumulating, while most of the traditional business and production optimisation methods have long been exhausted, this industry is currently one of the most promising for artificial intelligence. Together with the high turnover and advanced technological development traditional for this industry, oil and gas has great opportunities to expect considerable effect from the application of machine learning and artificial intelligence. We look forward to productive long-term cooperation,” said Alexander Khaytin, Chief Operating Officer of Yandex Data Factory.