Halliburton strengthens technological prowess with acquisition of Resoptima AS

Must Read

OilNOW is an online-based Information and Resource Centre

In a strategic move to strengthen its position in the technology-driven reservoir management sector, Halliburton has announced the acquisition of Resoptima AS, a renowned Norwegian company. Resoptima specialises in data-driven reservoir management, providing innovative solutions to enhance oil and gas operators’ capabilities in reservoir understanding, resource management, and risk mitigation. The integration of Resoptima’s industry-leading reservoir modeling and predictive analytics into Halliburton’s Landmark DecisionSpace® 365 suite is expected to bring about revolutionary advancements in the oil and gas industry.

With over 130 active fields worldwide benefiting from Resoptima’s technology, the company has gained a solid reputation for improving production volume predictions and conducting comprehensive assessments of uncertainties and risks. Halliburton’s Senior Vice President of Landmark, Halliburton Digital Solutions, and Consulting, Nagaraj Srinivasan, expressed enthusiasm for the acquisition, stating, “The combination of Resoptima’s best-in-class reservoir engineering and science with Landmark’s leadership in geology and drilling allows Halliburton to offer unique and innovative solutions that enhance exploration success and reservoir recovery.”

Resoptima’s software, developed in collaboration with numerous customers since its launch in 2013, has proven instrumental in increasing reservoir recovery factors and optimising reservoir intervention projects. By preventing costly mistakes such as underperforming well drilling and unnecessary injection volumes, Resoptima’s solutions have delivered substantial cost savings.

Atila Mellilo, former CEO of Resoptima, who now joins the Halliburton Landmark leadership team, emphasized the importance of technological advancements in promoting highly efficient production processes within the oil and gas industry. “The vision we share with Halliburton Landmark of a unified ensemble modeling approach will allow us to drive innovation, deliver increasing value to our customers, and expand our market reach,” Mellilo explained.

The integration of DecisionSpace® 365 and Resoptima solutions will ensure open architectures and interoperability with third-party software, maintaining the flexibility that existing and future customers require to capitalise on their previous investments. Aker BP, a long-term customer and investor in Resoptima, has already witnessed the benefits of the company’s solutions. Per Øyvind Seljebotn, Senior Vice President of Exploration and Reservoir Development at Aker BP, expressed his anticipation for the joint technology, stating, “Resoptima’s solutions have become an integral component of Aker BP’s digitalization portfolio.”

With Halliburton as a prime contractor of ExxonMobil in Guyana, the country stands to benefit from newer technologies adopted by the company.

Norway-based consultancy group Rystad Energy had said that some of the wells being spudded in Guyana are at the ‘bleeding edge of technology’ and represent drill campaigns that have never been done before.


Partnered Events

Latest News

Hess facing three lawsuits over disclosures in Chevron deal

(Reuters) - Oil producer Hess (HES.N) on Tuesday said it is currently facing three lawsuits alleging inadequate disclosures over...

More Articles Like This