GEOCOIN GLOBAL PRIVATE LIMITED

In their own words

GEOCOIN GLOBAL, is a knowledge-based startup, based in Noida, Uttar Pradesh, aims to foster collaboration based scalable business solutions comprise of Innovative research and Technology application focusing Indian Upstream Petroleum sector. The company has a global pool of highly experienced Experts and Resources to provide one stop solutions to Indian E&P companies throughout the life of the field, from discovery to the divestment. Further details of our business focus are available at www.geocoin.co. Due to the widespread global experience of the promoters, our start-up approaches E&P issues with Innovative scalable solutions from Exploration to Field development. These scalable solutions have high potential for wealth and skill creation associated with enhanced hydrocarbon production, recovery and mitigation of flow assurance issues. Background INDIA HYDROCARBON VISION -2025 has given significant & right emphasis on domestic exploration and production in medium & long term strategy framework. Accordingly we observe great push from government to re-energize Oil & Gas sector focusing on exploration and production enhancement. Recovery from the oil & gas fields located in India are in the range of 10- 30% of the Original Oil in Place (OIIP) as against to the global benchmark of 40-45%. Even 5% of incremental productions from Indian fields are worth 1 billion of US$. There are definite opportunities to increase the hydrocarbon production & field performance from the existing level by adopting following strategy: 1) Find new Hydrocarbons – Play Based Exploration 2) For Green fields - FDPs based on appropriate Reservoir Management and Depletion strategy considering the life cycle of the field, which should include EOR, Artificial lift, and Decommissioning. 3) Rejuvenate Brown fields targeting remaining opportunities – Extending the Field life. 4) Smart drilling, Completion and Development strategy to optimize no. of Wells to reduce Field development cost. To achieve this objective, E&P Industry requires great infusion of fit for purpose Innovative & scalable technology solutions, expertise and global analog suitable to address E&P issues within India. Innovation and Research Geocoin Global is engaged in vaGeocoin Globallue based collaborative Research and Development of Cutting edge Innovative scalable technology solutions focusing issues and challenges related with Exploration & Production of Oil & Gas resources within India. The Geocoin Global’s strategy on Innovation has following three elements: a) Engage E&P companies (Government & Private) to understand the issue and bottlenecks. b) Develop and test prototype field scale solutions. This will involve fusion innovative technology and Machine learning solutions. c) Implement cloud based scalable technology solution. Geocoin Global is running idea incubation and collecting feedback from E&P companies and experts. We will focus on two key India specific innovative solutions by Q1 2020; one related with new exploration insight and other related with reservoir management and production enhancement from the existing fields. We will utilize expertise knowledge base from our global Expert and Network along with the same available within country to develop technology solution; from proof of concept till deployment and replication. The value proposition of the research will be realized by E&P companies in terms of enhanced hydrocarbon production and field performance leading to wealth creation for the nation. Geocoin Global target IPs from the innovation as sustainable value addition to Geocoin Global. The focus of Geocoin Global is to support Indian E&P companies to monetize following opportunities manoeuvring value based fit for purpose globally proven innovative technology solutions within local context. 1) Finding new hydrocarbons 2) Reserve Growth 3) Production Enhancement The solutions developed and implemented with help to improve performance of Indian companies and will have potential to be replicated in other countries.

Written by the company on its public Startup India profile. Not verified by us.