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VOOZH | about |
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VOOZH | about |
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GeoSplit is a full-cycle oilfield service company, a developer of marker downhole research technologies for the oil and gas industry. Resident of the Skolkovo Foundation.
GEOSPLIT technology, used to diagnose and monitor the flow profiles of horizontal wells, is based on the use of quantum reporter markers and machine learning algorithms for automated interpretation of the results of analysis of well fluid samples. The main activities of the company: the implementation of commercial projects to study the characteristics of well flows, R&D.
One of the promising areas of Geosplit is the development of new digital solutions for obtaining additional information from marker diagnostics. This data helps clients optimize field development using machine learning algorithms, adapt hydrodynamic models and implement digitalization projects for oil production. This direction will be in demand both in the Russian and foreign markets.
GeoSplit has launched a production site in China. This company in Henan province was created in partnership with Xinmi Wanli Industry Development Co., Ltd. This was announced on October 10, 2022 by Rusnano.
The first line for the production of marked polymer-covered proppant and sand was launched. These flagship GeoSplit products are in good demand in the Chinese market. They allow well studies after multi-stage hydraulic fracturing (MFRP). The technology is used for production at fields with difficult to recover reserves, which are now being massively developed in the PRC.
The solution does not require additional equipment for long-term well monitoring or modification of the MSLP design. The availability and simplicity of well research technology allows you to get much more data to help you make decisions on optimizing production, reduces up to 30% of drilling costs, and increases production well productivity by 10-20%.
| Despite the difficulties with logistics, we managed to launch a production site together with Wanli. We see great prospects for the marker technology development business in China. The high interest in GeoSplit technology from global mining companies was the impetus for the opening of the production site. Thanks to this solution, the company will be able to quickly offer innovative technologies to an ever-growing number of customers in China, as well as in other Asian markets, "said Anna Belova, Director of International Business at GeoSplit. |
The resident of the Skolkovo Foundation Geosplit company, the Rusnano Sistema SICAR Venture Capital Investment Fund (created by RUSNANO together with AFK Sistema) and the UCP Investment Group signed an agreement in the framework of Round B on investments in the amount of $5 million in September 2019.
The investments will be used to expand into international markets, implement projects to digitalize field development based on marker monitoring data, as well as to further develop the technology platform and launch new products based on Geosplit quantum markers.
| Alexander Katashov, CEO of Geosplit: "The acquisition of investments in Round B is an important milestone for the company, which confirms both the successful results of the team's work in the period after Round A and the confidence of investors in our development strategy. In 2017, we entered the Russian market, and by the end of the year we launched marker monitoring at 20 wells. In 2018, there were already 50 of them. This year we doubled the sales of our products and services and entered the international market. Round B will give us new opportunities to further dynamically develop the technology and product line, including digital solutions, as well as expand the sales system and customer base around the world. " |
In 2018, Geosplit signed a long-term contract for $2 million for well diagnostics at the Daqing oil field in China, which is being developed by the state-owned company CNPC. In 2019, the company had a new Chinese contract for the study of wells of the Linfen gas field in Shaanxi province. In addition to the Chinese direction, work is underway to launch pilot projects in other regions of the world on projects of large oil companies. The export program has more than 20 countries.
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