The company’s ResX solution, the industry’s first commercial ensemble-based software platform for computer assisted history matching and production forecasting, allows for improved management decisions based on reliable reservoir models.
Tore F Munck, managing director of Oslo-based Resoptima, said: "The release of ResX represents a step change in the evolution of reservoir optimisation software. We’re very pleased to have secured the software agreements with several industry-respected oil companies.
"The software allows exploration and production companies to drastically improve the reliability of their reservoir models, quantify the uncertainty in future production forecasts, and use simulation of future production scenarios as key input to investment and operational decisions."
Launched in October 2013, ResX is already in use by large oil and gas companies in Northern Europe and the Middle East. The company is targeting additional agreements in North America, Asia and Western Europe by the end of the year.
ResX uses the latest developments in data-assimilation techniques to generate highly reliable reservoir models. The new solution enables data-driven decisions by utilising the increasing volume and detail of data captured in the exploration and production (E&P) industry.
The software is based on a technology, the Ensemble Kalman Filter (EnKF), that has proven to be capable of handling large amounts of data and severe nonlinearities, characteristics that are typical for reservoir optimisation challenges. With ResX, E&P companies can generate reliable future production forecasts with thorough quantification of uncertainty, and focus on making the right decisions to maximise recovery, while minimising the financial risk.
Resoptima is an independent technology company delivering software solutions and consultancy services for reservoir engineering challenges such as history matching, uncertainty assessment and production optimisation.
Image: (From left) Mats Reiersen, CFO, and Tore F Munck, Managing Director, in Resoptima. Photo: Couretsy of Resoptima.
