On August 1st 2013, OCTIO AS acquired all the shares of Gravitude AS from Statoil Technology Invest (STI).
Gravitude AS was established in 2012 within Statoil to commercialize an advanced method for 4D gravimetry and seafloor deformation monitoring. Currently, the technology is used to measure mass redistribution from production in hydrocarbon reservoirs and injection of CO2 for sequestration.
The methods have been used on several fields operated by Statoil since 1998. Up to four surveys per field have been performed, and the methodology has been proven to detect relatively small changes in the gas-water contact during production. The data has further been important in updating the reservoir models and improving the operation strategy for these fields.
Gravitude is now commercializing the technology and is opening up for turnkey services for all operators of hydrocarbon fields. The first non-Statoil operated field survey was conducted in 2012 and Gravitude is preparing to offer the services worldwide from 2014.
Bjarte Fagerås, CEO of OCTIO, states: “It is a great opportunity for OCTIO to commercialize this technology developed and matured within Statoil for more than a decade. The organization within OCTIO and the complementary technologies and personnel competence makes this a perfect addition to OCTIO’s seismic monitoring for enhanced oil recovery and reduced risk during drilling and injection. The gravimetric 4D measurements gives the operators essential information about the drainage of hydrocarbon fields for a much lower cost than equivalent time-lapse seismic operations. Gravitude will offer a complete range of services from feasibility study, modeling, data acquisition, data processing and interpretation. For clients with no or little experience with gravimetric time-lapse monitoring we can offer a turnkey solution including close cooperation with the client’s interpretation group to ensure full value of these data in the reservoir models. For clients with more internal experience, we can supply the actual services they require.”
Tina Todnem, VP Geology, Geophysics and Petrophysics in Statoil, states: “Statoil considers today 4D gravimetry as a proven technology that is routinely used on several fields. We found that the time is ready for transferring the services from an R&D function to a commercial service and we are looking forward to continued development of this technology in cooperation between Statoil and the service industry”.