Fairfield Geotechnologies and Ikon Science have formally signed a joint venture agreement to offer complete geoprediction services to the oil and gas industry in North America. The move coincides with Fairfield Geotechnologies’ official rebranding and reflects its strategy of focused investments in its core businesses, along with strategic alliances and acquisitions where possible.
The joint venture leverages Ikon Science’s geoprediction technology, which includes innovative workflows for unconventional and conventional reservoirs and RokDoc Ji-Fi inversion software, with Fairfield Geotechnologies’ seismic acquisition, processing and multi-client data library. Together, the two companies will be able to offer their clients customised, high-quality geotechnical solutions designed for comprehensive reservoir characterisation.
“The core capabilities and synergies of both companies are well matched,” said Charles (Chuck) Davison, CEO of Fairfield Geotechnologies. “The JV with Ikon represents our commitment to providing our clients with best-in class data, services and solutions for reservoir management, risk reduction and increased productivity.”
Mark Bashforth at Ikon Science commented, “This coupling of data and technology delivers a streamlined best of breed solution to our clients, the goal being to maximise the value from the data they acquire and use an understanding of the geology to manage reservoirs with precision.’’