Multi-frequency and multi-component extra-deep azimuthal resistivity measurements with depth of investigation of a few tens of meters provide advanced possibilities for mapping of complex reservoir structures. Inversion of the induction measurements set becomes an important technical problem. We present a regularized Levenberg–Marquardt algorithm for inversion of resistivity measurements in a 2D environment model with pixel-based resistivity distribution. The cornerstone of the approach is an efficient parallel algorithm for computation of resistivity tool signals and its derivatives with respect to the pixel conductivities using volume integral equation method. Numerical tests of the suggested approach demonstrate its feasibility for near real time inversion.