Australia's Stochastic Simulation announced Wednesday that a formal agency agreement has now been confirmed with Uzma Engineering Sdn. Bhd. (Uzma), a fully owned subsidiary of Malaysian stock exchange listed Uzma Berhad and leading Malaysian upstream oil and gas Services Company.
Stochastic and Uzma have been collaborating for some time under a Memorandum of Agency Agreement and Uzma has already been very busy in Malaysia with the distribution and support of Stochastic’s software solutions.
Uzma has been appointed as sole and exclusive agent for Stochastic Simulation’s products and services in Malaysia, including its revolutionary reservoir simulation software, ResAssure, and integrated gas planning software, GasAssure, with Uzma providing sales, consulting services and technical support to local oil and gas companies.
Uzma will also support OilAssure, a specialist tool for oil deliverability modelling and production forecasting. OilAssure’s principal application is in the modelling the oil production chain of integrated oil field developments, from reservoir to export point – known as a “Reservoir to Tank Farm” model.
Leo Mullins, Stochastic managing director, stated “having now cemented this strategic alliance, Uzma will continue to facilitate Stochastic in accessing key target markets in Asia – ensuring the successful distribution and implementation of our expanding upstream software solutions portfolio.”
“When we were originally seeking a local partner in Malaysia, it was important that we shared common values, focus and skills in the upstream sector, and with Uzma we are confident we have found such a partner”.
Uzma Vice President Geoscience and Petroleum Engineering, Rizal Mohd Arifin, says “this partnership with Stochastic enables Uzma to provide its customers with proven state-of-the-art software solutions allowing Uzma to better serve client needs in the ever changing exploration and production landscape”.
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