Halliburton acquires Norwegian tech company

Halliburton Company has completed its acquisition of Norway-based technology company Resoptima, it said on June 5. Resoptima specialises in reservoir management that leverages data-driven approaches to optimise oil and gas operations.

This acquisition is set to bring Resoptima's reservoir modeling and predictive analytics capabilities into the Halliburton DecisionSpace 365 suite.

Resoptima's technology solutions have proven instrumental in empowering oil and gas operators to gain a deeper understanding of their reservoirs, leading to enhanced efficiency in oil extraction, improved resource management, and more effective risk mitigation strategies, Halliburton said.

Nagaraj Srinivasan, the senior vice president of Landmark, Halliburton Digital Solutions, said the combination of Resoptima's reservoir engineering and scientific expertise with Halliburton's leadership in geology and drilling will enable Halliburton to deliver solutions that enhance exploration success and improve overall reservoir recovery rates.

Resoptima's software, launched in 2013 and developed through collaboration with numerous customers, has proven instrumental in increasing reservoir recovery factors and achieving significant cost savings on reservoir intervention projects, Halliburton said. By preventing costly mistakes such as underperforming well drilling and unnecessary injection volumes, Resoptima's technology ensures that operators can optimise their operational efficiency. Atila Mellilo, the former CEO of Resoptima, will join the Halliburton Landmark leadership team.

DecisionSpace365 and Resoptima solutions provide open architectures and interoperability with third-party software.