Reach Subsea acquires Norwegian geophysical monitoring business
Published by Nicholas Woodroof,
Editor
Oilfield Technology,
Headquartered in Norway, and with operations across the globe, Reach Subsea has joined forces with OCTIO to strengthen its capabilities in survey and inspection data gathering, allowing the company to become a full-service provider of subsea data and solutions to clients across the globe.
Established in 2006, OCTIO provides geophysical monitoring solutions for hydrocarbon-producing fields offshore. The company’s technologies provide seabed monitoring functionality, enabling oil and gas companies to gain insight into critical field parameters such as pressure depletion or fluid substation throughout a reservoir.
Already adopted by the majority of large gas fields in Norway is OCTIO’s flagship offering, gWatch (pictured), a 4D monitoring technology. With gravimetry and subsidence measurements, the solution provides a field-wide mapping of drainage, reservoir rock deformation and fluid movement.
The technology can also be effectively utilised on CO2 storage projects to monitor the distribution of CO2 in a reservoir and monitor the vertical movement of the gas.
John Lindgard, Vice President of Business Operations at Reach Subsea, said: “We are delighted to be joining forces with OCTIO as this will significantly strengthen our offering to our global client base.
“Our service offering, combined with OCTIO’s game-changing technology, will provide better data insights allowing our clients to benefit from significantly enhanced recovery rates, improved reservoir management and optimised subsea infrastructure.
“With great synergy between the two companies and our offerings, partnering with OCTIO – who we have already successfully worked with for several years – places Reach Subsea at the very forefront across the globe as a leading full-service provider of subsea services.”
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Read the article online at: https://www.oilfieldtechnology.com/offshore-and-subsea/18032022/reach-subsea-acquires-norwegian-geophysical-monitoring-business/
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