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Aker BP & Resoptima in Collaboration Agreement

Source: www.gulfoilandgas.com 7/2/2018, Location: Europe

Aker BP partners with Resoptima for implementing next-generation reservoir management software. Aker BP has entered a three-year cooperation agreement with Resoptima for the incorporation of Resoptima’s software solutions into Aker BP’s digitalization effort within reservoir management. In addition Aker BP will take a 15% equity position in Resoptima. Deploying the Resoptima solutions across the Aker BP producing assets is aligned with Aker BP’s ambitious digitalization agenda.

Both Aker BP and Resoptima see great potential for the E&P industry to increase recovery while reducing costs by leveraging the power of data-driven reservoir modeling and management. By facilitating a better collaboration between the subsurface disciplines, as well as rapidly updating reservoir models as new data becomes available, Aker BP will be able to better account for uncertainty, improve its decision-making processes and increase its operational efficiency.

Resoptima’s reservoir modeling and data conditioning software ResX allows E&P companies to rapidly create reliable reservoir models through consistent integration of all available reservoir data while accounting for uncertainty. The software can be used to run virtual experiments of future production scenarios and help operators making the right decisions to maximize recovery, while minimizing the financial risk.

The collaboration will also allow Resoptima to further develop the technologies through access to Aker BP’s subsurface competence and reservoir data.

“We are a leading company for digitizing E&P, and Resoptima’s technologies will help us maintain our technical leadership in reservoir monitoring and modeling to maximize value creation from our fields,” said Karl Johnny Hersvik, CEO of Aker BP. “Efficient operations require up-to-date digital models for reservoir simulation and optimization and our cooperation with Resoptima will bring forth significant value in this discipline”.

“Aker BP is committed to leveraging their impressive data platform in order to make faster and better business decisions,” said Atila Mellilo, CEO of Resoptima. “The cooperation will also enable us to improve our products based on the common view we share with Aker BP regarding the intelligent use of data for driving business decisions in the E&P sector”.

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