About OCTIO Group

Bring resources to reserves by 4D life of field seismic

In a world with increasing demand for oil and gas with declining reserves, it is absolutely necessary to increase the total recovery rate for every oil and gas field. New marginal fields are more expensive to develop.

The complexity of extracting oil and gas from the earth, using a safe and environmental friendly method, requires interaction between multiple branches of knowledge fields and expertises. Every day we are facing the great challenges of how to combine the various technologies and know-how in order to enhance the oil productions.

By integrating data from permanent data acquisition networks on the seabed and in-wells with multiple types of sensors, more frequent measurements and model updates can be made, and the information plays an important role on production decisions. The same data acquisition networks can be used for monitoring the wells and the seabed for HSE parameters to minimize or avoid pollution and accidents.

OCTIO Group is presently owned 60% by GC Rieber Shipping ASA, 20% by StatoilHydro Venture Capital and 20% by Reservoir Innovation AS, a privately held technology company in Bergen, Norway.

OCTIO Geophysical is owned 74% by the OCTIO Group and 26% by ION Geophysical Inc., an international leading supplier of seismic equipment and solutions with headquarters in Houston, Texas.

OCTIO Exploration business area is wholly owned by OCTIO Group.

OCTIO are establishing an organization on complementary business units. The business structure addresses the disciplines which deliver a total solution for Oil and Gas Companies. OCTIO group will expand both organically and by acquisitions. In addition to internal growth, OCTIO has already established key partnerships with technology partners and service providers that have complementary capabilities to support its operations.