Offshore staff
STAVANGER, Norway -- Norway's Roxar AS and Nigeria's SONAR Ltd. have formed a joint venture to meet the increasing demands in Nigeria and West Africa for reservoir management and optimization solutions. The JV will be called Roxar-SONAR.
Under the terms of the joint venture, a service center has been set up in Lagos, Nigeria, to provide sales and local customer support across Nigeria and West Africa. The center will also serve as a training center for Roxar's software portfolio. The Lagos office will be a base for Roxar's consultancy services.
Roxar provides reservoir modeling and simulation solutions. SONAR's service range from seismic data processing and reservoir modeling to business development activities.
"With proven oil reserves totaling 35.2 Bbbl and natural gas reserves of 176 tcf, Nigeria is a key area of strategic importance for future oil and gas exploration and production. We are delighted to be announcing this joint venture with SONAR today, building up local knowledge and ensuring that our existing Nigerian and West African customers get the most out of their reservoir management. The joint venture will also ensure that we are ideally placed to expand our local customer base further," says Sandy Esslemont, Roxar CEO.
Sona-Ari Jack, managing director of SONAR agrees. "Today's joint venture is a significant milestone for SONAR. By building strategic alliances with global companies such as Roxar, SONAR can utilize its local knowledge and Roxar's extensive reservoir management portfolio to bring an unrivalled combination to West African and Nigerian oil and gas companies."
1/11/2007
