Powersim Software
Powersim Software is a Norwegian SaaS company that builds pForecast, a cloud-based Monte Carlo production forecasting platform serving oil and gas operators on the Norwegian Continental Shelf, with all three largest NCS operators as customers.
- Company typePrivate
- Founded2002
- HeadquartersNyborg, Norway
- Headcount1–10
- GTM typeB2B
- OfferingSoftware
What Powersim Software does
Powersim Software AS is a privately held Norwegian software company founded in 2002 and headquartered in Nyborg (Bergen), Norway, operating with a small core team supplemented by outsourced development through Cefalo Bangladesh. The company's flagship product, pForecast, is a cloud-based SaaS platform purpose-built for production forecasting in the oil and gas sector, performing full-lifetime simulations of production and injection profiles using Monte Carlo stochastic analysis integrated with deterministic decline curve analysis, drilling schedules, and facility constraints. Its secondary product, Powersim Studio, is a desktop system dynamics modeling platform that serves as the foundational technology for pForecast and is also sold independently to academic and cross-industry users. The platform differentiates through built-in support for Norwegian Continental Shelf regulatory standards (NPD, PRMS, RNB reporting), uncertainty quantification embedded as an integral workflow rather than an afterthought, and integrations with industry-standard subsurface and data tools including Eclipse, ResX, Cognite Data Fusion, and Production Data Mart.
Powersim operates an enterprise field sales motion targeting major NCS operators, supplemented by direct enterprise SaaS agreements and a small reseller network spanning EMEA, the United States, and South Korea. Revenue is generated through multi-year SaaS subscriptions for pForecast, one-time desktop license sales and annual maintenance for Powersim Studio, and professional services including workshops, consulting, and onboarding training. The company reports no public revenue but has been cited as generating NOK 7M in sales plus NOK 3M in annual maintenance per major operator under its 2018 frame agreement with Statoil (now Equinor). Its enterprise customer base comprises the three largest operators on the Norwegian Continental Shelf — Equinor, Aker BP, and Vår Energi — with multi-year contracts in force, the most recent being Vår Energi's three-year agreement signed in September 2025. The company is privately held, GDPR/CCPA compliant, and operates as an independent entity with no disclosed parent company, institutional investors, or public shareholders.
Powersim Software firmographics
Firmographics- Name
- Powersim Software
- Legal name
- Powersim Software AS
- Website
- https://powersim.com
- Company type
- Private
- Founded year
- 2002
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Powersim Software is a Norwegian SaaS company that builds pForecast, a cloud-based Monte Carlo production forecasting platform serving oil and gas operators on the Norwegian Continental Shelf, with all three largest NCS operators as customers.
- Ownership category
- akta.pro rank
Where Powersim Software is headquartered
LocationHeadquarters
- HQ city
- Nyborg
- HQ country
- Norway
- HQ region
- Europe
Offices1 record
Markets served
Powersim Software business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations
Revenue model
- pForecast SaaS Subscriptions: pForecast is offered as a cloud-based Software-as-a-Service (SaaS) solution. Revenue is generated through SaaS subscription fees, typically structured as multi-year agreements with annual billing. Major operators (Equinor, Aker BP, Vår Energi) have multi-year corporate contracts.
- Powersim Studio Desktop Licenses: Powersim Studio is sold as client-based desktop licenses with different editions (Modelling, End-User, Developer Suite, Academic). The Studio tools are installed locally on Windows and include various licensing tiers.
- Professional Services & Training: The company provides introductory and advanced workshops, consulting services, and technical support. Free onboarding training is included in the trial period, and paid service agreements are available for ongoing support.
- Annual Maintenance Income: Annual maintenance income is generated from Powersim Studio clients. For pForecast, the company has referenced annual maintenance income as a recurring revenue stream alongside primary sales revenue.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Pay-as-you-go | pForecast Free Trial |
| Subscription | Annual | pForecast SaaS (Enterprise) |
| One time/ perpetual license | Multi-year contract | Powersim Studio Editions |
Go-to-market motion1 record
Distribution channels5 records
Marketing channels8 records
Powersim Software product offering
Product offeringCore offering
Powersim Software develops and sells pForecast, a cloud-based SaaS solution for uncertainty-centric production forecasting in the oil and gas industry, and Powersim Studio, a desktop System Dynamics modeling platform. The company integrates Monte Carlo simulations, subsurface data, drilling schedules, and facility operations to deliver risk-aware production forecasts for energy operators.
Product overview
Powersim Software offers two core products: pForecast and Powersim Studio. pForecast is the flagship cloud-based SaaS solution for uncertainty-centric production forecasting in the oil and gas industry, leveraging Monte Carlo simulations to integrate subsurface data, drilling schedules, and facility operations. Powersim Studio is the company's legacy system dynamics modeling platform, available in multiple editions (Modelling Tools, End-User Tools, Developer Suite, and Academic) that form the foundational technology for pForecast. The portfolio includes specialized tools like Gantt Navigator for construction project management. The company serves primarily the energy sector with production forecasting, decision support, and simulation capabilities.
Differentiator
Problem solved
Functional benefit
Brands
- pForecast: Cloud-based SaaS production forecasting solution for the energy sector, featuring uncertainty-centric forecasting using Monte Carlo simulations for oil and gas production predictions.
- Powersim Studio
- pForecast by Powersim Software
Products and services
- pForecast Cloud-based SaaS production forecasting solution for the oil and gas industry that performs full-lifetime simulations of production and injection forecasts using Monte Carlo simulations, integrating subsurface data, drilling schedules, and facility operations to provide uncertainty-centric forecasting for oil and gas operators.
- Powersim Studio Desktop system dynamics modeling software for building and running business simulation models in Microsoft Windows, used for scenario planning, policy testing, risk analysis, and uncertainty quantification across industries such as asset management, river water management, and strategy and operations simulation.
- Professional Services and Training Introductory and advanced workshops, consulting, and technical support services covering pForecast and Powersim Studio, with free onboarding training during the trial period and paid service agreements available for ongoing support.
Quantifiable outcome
- RNB reporting time reduced from 3 weeks to 3 days
- +4 more outcomes
Companies that use Powersim Software
Customer profileNamed customers4 records
Segments5 records
Ideal customer profiles4 records
Powersim Software technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration6 records
AI capability4 records
Feature12 records
Powersim Software partnerships and signals
Strategic signalPartnerships
Ten partnerships are on record, tiered core and minor.
- Vår EnergicorePowersim Software entered into a three-year agreement with Vår Energi in December 2025 for the use of pForecast SaaS, supporting Vår Energi's production forecasting digitalization ambition.
- Aker BPcorePowersim Software signed a significant framework agreement with Aker BP in March 2022 for the use of pForecast.
- Aker BPcorePowersim Software began a collaboration with Aker BP in February 2019 to develop the next-generation, cloud-native production forecasting tool (pForecast). The collaboration is based on Powersim's leading statistical algorithms and aims to enable high automation, tight integration with cloud implementations, support for new ML-driven forecast algorithms, and a modern web-based user experience.
- Equinor (formerly Statoil)corePowersim Software signed a frame agreement with Statoil ASA (now Equinor ASA) in April 2018, entitling Powersim to continue developing and selling pForecast. The agreement was extended, and in October 2023, a milestone five-year corporate contract was announced. Equinor collaborated with Powersim to develop pForecast based on Powersim Studio OEM software.
- Cognite Data Fusion (CDF)corepForecast integrates with Cognite Data Fusion (CDF) for automated data retrieval. CDF connections enable automatic daily import of rapidly changing data such as historical production values. This is a key integration for modern data-driven forecasting workflows.
- ArribateccorepForecast is hosted and maintained by third-party provider Arribatec. Powersim manages updates and maintenance using Lean development cycles, with a focus on developing cutting-edge features based on client requirements.
- Cefalo Bangladesh Ltd.minorCefalo Bangladesh Ltd. is a Norwegian company with a strong team of developers based in Bangladesh. Powersim Software uses Cefalo as a trusted partner for software development, with multiple developers (Kazi Mutasim Malik, Faroque Abdullah, Asraful Karim, Kutub Uddin Jalal Parag, Yeasin Abedin) joining through Cefalo.
- Whatxnext B.V.minorOfficial reseller for Powersim Studio covering Europe, Middle East & Africa. Based in Utrecht, The Netherlands. Contact: [email protected].
- MindsEye Computing, LLCminorOfficial reseller for Powersim Studio in the United States, based in Idaho Falls, ID. Also maintains a resources page with converted Powersim Studio models for John Sterman's Business Dynamics textbook, Jim Hines' Molecules of Structure, and Hartmut Bossel's Zoo Models.
- Stramo CorporationminorOfficial reseller for Powersim Studio in South Korea, based in Seoul.
Scale indicators7 records
Recent moves6 records
Expansion highlights6 records
Powersim Software competitors and assessment
Company assessmentDirect peers
- whitson: Norwegian-headquartered PVT and reservoir engineering software and consulting firm serving upstream oil & gas — directly comparable in being a small specialist vendor of production engineering tools to oil & gas operators.
- Calsep: Danish PVT simulation and production forecasting software specialist serving oil & gas operators and consultancies — comparable as a small specialized vendor of production-modelling tools with overlapping personas (reservoir and production engineers).
- isee systems (Stella/iThink): Makers of Stella and iThink system dynamics modelling tools — directly comparable to Powersim Studio, serving both academic and commercial users for system dynamics simulation and scenario analysis.
- Petroleum Experts (Petex): Edinburgh-based provider of the IPM suite (PROSPER, MBAL, GAP) for integrated production modelling and forecasting in oil & gas — the closest direct competitor in upstream production forecasting with similar target customers (operators and reservoir engineers).
- Ventana Systems (Vensim): Provider of Vensim, the most established commercial system dynamics modelling platform — directly comparable to Powersim Studio in the system dynamics software market, sharing the same stock-and-flow simulation methodology.
Others
- Cognite: Norwegian industrial data platform with deep NCS operator penetration and a documented integration partnership with pForecast — adjacent (enabling) rather than directly competitive, but a key ecosystem participant in Powersim's go-to-market motion.
Broad incumbents
- Halliburton Landmark (DecisionSpace): Halliburton's Landmark division offers DecisionSpace and associated reservoir/production software — overlaps with pForecast functionality but as part of an integrated E&P suite sold to large operators globally.
- Merak (SLB): Production forecasting and economics software now part of SLB (formerly Schlumberger); competes with pForecast in upstream production forecasting but as part of SLB's much broader digital E&P platform.
- Emerson Paradigm (Roxar): Emerson's Paradigm/Roxar reservoir management and production software competes with pForecast in reservoir and production workflows, sold as part of Emerson's broader automation and reservoir software portfolio.
Emerging players
- AnyLogic: Multi-method simulation platform combining system dynamics, agent-based, and discrete event modelling — adjacent competitor to Powersim Studio, particularly in academic and operations research settings.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
Powersim Software social profiles
Digital presencePowersim Software compliance and trust
Trust signalCompliance2 records
Powersim Software financial estimates
Financial estimateRevenue estimate
Valuation estimate
Powersim Software leadership team
Management profileNumber of profiles
Profiles3 records
Powersim Software funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Powersim Software M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Powersim Software
What does Powersim Software do?
Powersim Software develops and sells pForecast, a cloud-based SaaS solution for uncertainty-centric production forecasting in the oil and gas industry, and Powersim Studio, a desktop System Dynamics modeling platform. The company integrates Monte Carlo simulations, subsurface data, drilling schedules, and facility operations to deliver risk-aware production forecasts for energy operators.
Is Powersim Software a public or private company?
Powersim Software is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Powersim Software founded?
Powersim Software was founded in 2002. It employs 1 to 10 people.
Where is Powersim Software based?
Powersim Software is headquartered in Nyborg, Norway, in the Europe region.
How does Powersim Software make money?
Four revenue lines are on record. pForecast SaaS Subscriptions are the primary driver. The others are powersim Studio Desktop Licenses, professional Services & Training and annual Maintenance Income.
Who are Powersim Software's main competitors?
Direct peers on record are whitson, Calsep, isee systems (Stella/iThink), Petroleum Experts (Petex) and Ventana Systems (Vensim). Cognite is listed as an others. Broad incumbents are Halliburton Landmark (DecisionSpace), Merak (SLB) and Emerson Paradigm (Roxar). AnyLogic is listed as an emerging player.
Does Powersim Software have an API?
Yes. pForecast offers an API for data integration. JSON files used for data sharing are more compact and include additional information for enhanced interoperability. The system allows export/import of complete assets and scenarios as self-contained files that rebuild structures automatically on import. Data imports are handled through Excel workbooks uploaded to the pForecast server. API functionality includes integration with third-party solutions and support for data exchange formats.