Press release: Halliburton Acquires Resoptima To Enable DecisionSpace® 365 Reservoir Modeling And Optimization

News Article

June 5, 2023 – Halliburton Company (NYSE: HAL) today announced it acquired Resoptima AS, a leading Norwegian technology company that specializes in data-driven reservoir management. This strategic acquisition will integrate the industry-leading reservoir modeling and predictive analytics of Resoptima into the Halliburton Landmark DecisionSpace® 365 suite.

Resoptima provides technology solutions that enhance oil and gas operators’ ability to harness data for reservoir understanding, driving efficiency in oil extraction, resource management, and risk mitigation. To date, more than 130 active fields globally have benefited from Resoptima’s technology, enjoying improved production volume predictions and comprehensive assessments of uncertainties and risks.

Nagaraj Srinivasan, senior vice president of Landmark, Halliburton Digital Solutions, and Consulting, said, “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.”

Launched in 2013 and developed with input from dozens of customers, Resoptima’s software helps increase reservoir recovery factors and deliver cost savings on reservoir intervention projects by preventing costly mistakes like underperforming well drilling and unnecessary injection volumes.

“Oil and gas remain integral to global energy supply,” said Atila Mellilo, the former CEO of Resoptima who joins the Halliburton Landmark leadership team. “To ensure the industry continues to evolve, we must focus on technologies that promote highly efficient production processes. 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.”

DecisionSpace365 and Resoptima solutions provide open architectures and interoperability with third-party software. The combined portfolio will maintain these features, enhancing existing and future customers’ ability to capitalize on their previous investments.

Per Øyvind Seljebotn, senior vice president, Exploration and Reservoir Development at Aker BP, said, “Resoptima’s solutions have become an integral component of Aker BP’s digitalization portfolio. As a long-term customer and investor in Resoptima, we look forward to the benefits of this joint technology.”

Left to right: Tore Felix Munck (Resoptima CTO & Founder), Nagaraj Srinivasan (Nagaraj Srinivasan, SVP of Landmark, Halliburton Digital Solutions, and Consulting), Atila Mellilo (Resoptima CEO) and Sverre Munck (Chairman of the Resoptima board)