Roxar signs software deal with PetroChina
Roxar signed a multi-million dollar software agreement with PetroChina, the main unit of China National Petroleum Corp. (CNPC). The contract was signed in Beijing in the Peoples Republic of China.
PetroChina will purchase multiple licenses of Roxar's 3D reservoir modeling software, Irap RMS, and apply it throughout the company's operations and affiliates in the Peoples Republic of China. The agreement also includes an extensive training program on the software for several hundred PetroChina staff.
Irap RMS comprises 10 fully integrated software modules including mapping, modeling, planning, and workflow management tools designed to help geologists, reservoir engineers, and geophysicists increase productivity from existing fields and to shorten the discovery-to-production lifecycle.
Key benefits to PetroChina include:
• Increased oil and gas recovery from existing fields as well as a shortening of the oil and gas discovery to production lifecycle
• Reduced exploration risk
• Advanced 3D modeling techniques
• Interoperability with all hardware platforms
• A common user interface and visualization environment.
"Through Irap RMS, PetroChina will have the business critical information they need to effectively manage their oil and gas reservoirs and optimize production not just today, but for many years to come. In addition, Roxar's extensive training program for PetroChina staff demonstrates the company's commitment to be a long-term player in the Peoples Republic of China," said Roxar CEO, Sandy Esslemont.
1/5/05