RPS makes strategic acquisition of Reservoir Imaging Ltd
02 October 2019 | 3 min read
Global professional services firm RPS today announces the acquisition of UK software and technology consultancy Reservoir Imaging Ltd (RIL) – further strengthening its services to the oil and gas sector.
The £4 million deal will deliver a winning combination of experts, data and technology that provides ease and confidence in highly complex oil and gas seismic data acquisition surveys.
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. This includes managing seismic interference to avoid timeshare and reducing the likelihood of aborted lines or costly re-acquisition.
With a long history working together on some of the world’s most technically challenging oil and gas projects, RIL supports smart investment decisions to bring resources to market efficiently and safely. RPS believes exploiting the synergies of both organisations and prioritising data-enabled technologies to inform accurate decision making will add depth to its existing marine seismic capabilities.
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.”
Commenting on the announcement, Reservoir Imaging Managing Director, Keith Watt said:
“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 begins on Tuesday, 1 October 2019 and 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.
Founded in 1970, RPS, A Tetra Tech Company (RPS) is a leading global professional services firm of 5,000 consultants and service providers. Operating in 125 countries, working across six continents we define, design and manage projects that create shared value to a complex, urbanising and resource-scarce world.
RPS delivers a broad range of services in six sectors: property, energy, transport, water, defence and government services and resources. Services provided across RPS' six sectors cover twelve service clusters: project and program management, design and development, water services, environment, advisory and management consulting, exploration and development, planning and approvals, health, safety and risk, oceans and coastal, laboratories, training and communications, creative and digital services.
RPS stands out for its clients by using its deep expertise to solve problems that matter, making them easy to understand. Making complex easy.
For further information, please visit www.rpsgroup.com.