Innovation Acknowledged: Ikon Science wins 2019 Queen’s Award
April 23, 2019- London- Ikon Science has won the Queen’s Award for its Innovative RokDoc – Ji-Fi data driven subsurface imaging system. This is the third Queen’s Award received by the company over the past 5 years.
“We are very honored to receive the Queen’s Award, the highest accolade for business enterprise” said Martyn Millwood Hargrave, Executive Chairman. “In particular the judges have recognised our strong business focus on significant research leading to commercial innovation that is such a strong part of the company’s culture and industry leading position. RokDoc Ji-Fi is globally significant because it enables accurate data-driven predictions of economically important rock properties and geological conditions of the deep subsurface. These are of vital importance to safe and efficient drilling for oil, gas, water and geothermal energy”.
The RokDoc Ji-Fi system was developed by an Ikon Science team led by Chief Scientist Drs Michel Kemper and the mathematical geophysics research group at CSIRO, Australia, notably Scientific Researcher James Gunning. It also included partners Tullow Oil plc, the FTSE 100 multinational explorer and producer. The commercial system is used by supermajor energy companies and leading independents in unconventional and conventional exploration and production, with over 200 solutions projects completed globally.
Ikon Science was founded in 2001 in London UK and the company rapidly has built global scale around the company’s RokDoc® software platform. A number of targeted acquisitions over the past 10 years has increased the technology footprint and supported the push to strengthen international business. “Ikon Science’s domestic & overseas growth has been driven by its reputation for innovative technology and expert data scientists combining to predict and understand the subsurface. There is increasing demand for oil & gas and resource companies to improve drilling targeting, effectiveness and the safety of their operations”, said Mark Bashforth, Chief Executive Officer. “We are proud that Ikon Science has become the partner of choice for reaching these goals.”
Ikon Science is a global GeoPrediction technology company providing industry leadership in the prediction of reservoir properties, pressures and fluids. Founded in 2001, the company has 120 staff, based in the Americas, Europe and the Far East. The companies RokDoc® and iPoint software platforms, leverage the power of rock science and data to integrate well, and seismic data to understand the subsurface and are used in over 200 leading oil, gas, energy and service companies throughout the world. The company is privately owned by Great Hill Partners.
The Queen’s Award for Enterprise have been operating in various forms since 1966, developing over the years into the current format comprising four categories of Award.
The Queen’s Awards for Enterprise are awarded to businesses for outstanding achievement in four categories International Trade, Innovation, Sustainable Development and also for Promoting Opportunity (through social mobility), to recognise businesses who promote social mobility. The Queen's Award is valid for five years. It is one of the most internationally-recognized and sought after awards and represents the strong entrepreneurial streak and the excellent businesses the UK has up and down the country who are growing, creating jobs, making a valuable contribution to the economy