Geosplit builds marker-based technology for monitoring well flows in downhole oil and gas operations and analyses production and safety data using machine learning. The company has carried out marker surveys on 20 horizontal wells so far and plans to double that in 2018 in Russia before beginning an export programme. Geosplit says its marker monitoring can substantially reduce the costs of downhole operations and improve well operation control. CEO Alexander Katashov estimated the economic benefit from the technology at many millions of rubles per well. The startup raised new capital to further develop the technology and create new products. Rusnano’s managing director said Geosplit could secure a dominant market position in Russia due to technological and cost advantages over competitors.

Total raised

$2M

Funding rounds

1

Latest round

Equity

Latest activity

Dec 2017