RESMAN grants global patent licence to Tracerco

Source: press release, 21 January 2019

RESMAN CEO, Gunnar Hviding
RESMAN CEO, Gunnar Hviding (photo: RESMAN)

RESMAN AS and Tracerco, a subsidiary of Johnson Matthey Plc, have entered into a global patent licence agreement under which Tracerco will have the right to conduct commercial business based on RESMAN’s inflow monitoring patent portfolio. The agreement follows a mutually agreed decision for the two companies to discontinue litigation.

Under the rights of the patents, both RESMAN and Tracerco will provide essential well and reservoir monitoring services, enabling oil and gas companies to optimise oil production and support decisions for targeted well intervention to ensure operational efficiency.

Gunnar Hviding, RESMAN CEO, says, “We are pleased to enter into this licence agreement with Tracerco and see this as a confirmation of the value related to the R&D work RESMAN is performing. RESMAN will continue to invest heavily in R&D, improved processes and products to offer our customer increased value of data in the future.”

Headquartered in Trondheim, RESMAN AS was established in 2005. RESMAN’s chemical tracer and wireless technologies enable operators to monitor their wells for up to 10 years without the risks and costs of intervention. Through innovative chemical tracers at parts-per-trillion concentrations, it is possible to add a zonal resolution to the well production data, providing operators with zone-specific well production data and production trends for use in continuous production optimisation and well performance evaluation.