Offshore staff

HOUSTON --Schlumberger has acquired UK-based VIPS geomechanics software and consulting company.

VIPS now becomes Schlumberger Reservoir Geomechanics Center of Excellence under direction of VIPS founder Nick Koutsabeloulis.

"This acquisition significantly strengthens our offering in 3D and 4D reservoir geomechanics, which is one of our key strategic initiatives," says Chris Hopkins, president, Schlumberger Data & Consulting Services. "V.I.P.S. technology enables our petrotechnical experts to better translate the measurements, which our acquisition segments make, into answers that our customers are demanding."

V.I.P.S. developed the first coupled geomechanics stress-dependent reservoir simulation capability, which integrates the disciplines of geomechanics and rock mechanics with those of reservoir engineering and simulation.

"We look forward to integrating our geomechanics modeling expertise into the Schlumberger portfolio to advance the value of the mechanical earth model, which is a critical component in the life of a reservoir," said Koutsabeloulis.

5/10/2007