Company Facts

SPT Group is a leader in dynamic modeling for the oil and gas industry, employing highly skilled professionals worldwide. SPT Group provides a combination of software and consulting services within multiphase flow and reservoir engineering.  

SPT Group has, over the years,been successful in turning basic research into profitable software products and consulting services to the oil and gas industry.

History

The company was established in 1989,focused on the development of the multiphase simulator OLGA. The development started in 1980 with IFE and Sintef,and the first version was ready in 1984. In 1989 Scandpower received the responsibility to commercialize the simulator, and the first commercial release was ready in 1991.

Since then OLGA has become the dominant transient multiphase simulator in the market. To bring OLGA's capabilities to online production, edpm was developed. Drillbench and MEPO complete the range of succesful products.

Ownership

As of June 2006, SPT Group (formerly Scandpower Petroleum Technology) was acquired by the investment fund Altor. In order to realize the long-term potential for the company, a strategic solution in securing a financial investor was deemed the preferred course of action. Current owners are Altor, HitecVision Private Equity III, Pipeflow Invest, and the employees.