Global access to broad range of subsurface E&P asset management technology
AMSTERDAM, Netherlands, March 5 /PRNewswire/ -- Paradigm(TM) (http://www.pdgm.com/), a leading provider of enterprise software solutions to the global oil and natural gas exploration and production (E&P) industry, announced today that Paradigm and StatoilHydro ASA, Norway's leading integrated technology-based international energy company, have entered into a multi-year agreement to deploy a broad suite of Paradigm's subsurface E&P asset management software applications on a globally accessible basis across StatoilHydro's operations worldwide.
As exploration continues with ever increasing reservoir complexity, and data sets grow larger and larger, StatoilHydro Geoscientists, in every StatoilHydro office globally, will now be able to benefit from access to Paradigm petrophysics, depth conversion, interpretation and processing & imaging technology. This will allow StatoilHydro to easily deploy workflows and knowledge, developed in Norway, throughout all of their international offices around the world.
"StatoilHydro has entered into this agreement based on the long standing history between StatoilHydro and Paradigm, and the high quality of the results we are able to obtain when using Paradigm technology," said Oddvar Vermedal, manager of global IT subsurface services for StatoilHydro. "StatoilHydro places a high degree of value on best-in-class technology, and establishing this global agreement with Paradigm is consistent with our E&P goals." "Paradigm has had a long and rewarding relationship with both Statoil and Hydro going back many years, so it is particularly exciting to move to the next level of our relationship with the combined company of StatoilHydro," said Richard Jefferies, Paradigm executive vice president of Europe, Africa and the CIS operations. "Both companies have technology at their heart, and place a lot of emphasis on using great science to add bottom line value. As such, we look forward to working with StatoilHydro over the coming years to further this mutually shared vision." Paradigm President and CEO, John Gibson, reinforced this shared emphasis on technology, by saying "StatoilHydro's technical leadership is well recognized by the industry. Their choice of Paradigm therefore helps us to know that our direction and vision are on target for these challenging times." For more information on Paradigm products and services, contact your regional office directly (find information at http://www.pdgm.com/), or e-mail .
About Paradigm(TM) Paradigm B.V. (http://www.pdgm.com/) is an industry leader in digital subsurface asset management, serving oil and gas companies worldwide. Paradigm technology solutions for seismic processing and imaging, interpretation and modeling, reservoir characterization and petrophysics, and well planning and drilling operate in an open environment to accelerate results. Paradigm has a global network of sales, consulting and support.
The following are trademarks or registered trademarks of Paradigm B.V. or of its affiliates (collectively, "Paradigm"): Paradigm(TM), Paradigm logo and/or other Paradigm products referenced herein. All other trademarks are owned by their respective owners. Please read the Paradigm notice on forward-looking statements at http://www.pdgm.com/legal.aspx#Forward-Looking-Statements.
About StatoilHydro ASA Established on October 1, 2007, following the merger between Statoil's and Hydro's oil and gas activities, StatoilHydro employs 29,500 employees in 40 countries, operating 39 producing oil and gas fields. They are the world's largest operator in water depths of greater than 100 meters, and a world leader in the use of deepwater technology.
StatoilHydro's proven reserves are in excess of six billion barrels of oil equivalent, averaging approximately 1.7 million barrels of oil equivalent production per day. They are a leader in carbon capture and storage, and one of the world's largest crude oil and gas suppliers.
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Samhita Shah
Tel: +1 713.393.4109
DATASOURCE: Paradigm CONTACT: Samhita Shah of Paradigm, +1-713-393-4109, Web Site: http://www.pdgm.com/ http://www.pdgm.com/legal.aspx#Forward-Looking-Statements
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