RPS, a global professional services firm, has acquired UK software and technology consultancy Reservoir Imaging Ltd (RIL) in a £4 million deal to further strengthen its services in the oil and gas sector.
RIL, an established seismic software services consultancy based in Edinburgh, Scotland, delivers services using its proprietary developed Osprey Software Suite to support the planning and subsequent safe and efficient acquisition of offshore marine seismic surveys.
John Tompson, chief executive for Energy, RPS, said: “As uncertainty continues around the oil price the industry is exploring new ways to deliver improved returns. To meet an increasing demand for cost-effective, efficient, accurate and safe seismic data acquisition surveys by both clients and contractors means there is a corresponding rise in demand for the software and field specialists to run it. RPS appreciates the rapidly changing market conditions where data and technology are key business drivers – we therefore see RIL as an intelligent and complementary addition to the business.
“RPS seeks to pursue growth opportunities that align with client and market needs. In Energy, the need is for data driven decision making. RIL is known for its expertise using technology and data to enable clients to make sound investment decisions on reserves, further exploration and other factors affecting the commerciality of oil and gas fields. It is a natural fit for our business, and we are delighted to welcome the team to RPS.”
Reservoir Imaging managing director, Keith Watt added: “RIL is growing quickly, a significant technology development program has allowed us to build new service offerings, increasing the scope and scale beyond our traditional 4D services. The opportunity to access the global reach of RPS provides the company with a fantastic opportunity to expand. We are excited to move onto the next phase in the company’s development and look forward to the integration of our technology and services with RPS.”
RIL will join RPS’ Energy Operations team of approximately 350 exploration, design, project management and advisory specialists.
The integration is expected to be completed within six to nine months. Throughout the transition period, this newly combined team will be led by RPS managing director in Europe, Africa and the Middle East (EAME), Ernest Statton.