Chroma Energy Lands Seismic Contract from PEMEX
|Monday, January 26, 2004
Chroma Energy has signed an agreement with PEMEX, through its agent, G & W Systems Inc., to provide seismic interpretation capabilities in support of their ongoing domestic exploration and development activities. Under the terms of the agreement, PEMEX will have access to Chroma Energy's prospect generation expertise as well as the results of its proprietary ImageGenetics(TM), ChromaPatterns(TM) pattern recognition and ChromaVision(TM) visualization software. The seismic interpretation project is an exploration study in the Isthmian Saline Basin, Bay of Campeche, Offshore Mexico.
According to Don Voelte, CEO of Chroma Energy, "This is an exciting opportunity for Chroma Energy to again demonstrate our ability to deliver quality prospects through an integrated interpretation process that includes our proprietary technology as one component of the analysis. PEMEX has consistently been an aggressive exploration company in the oil industry, and they have an exceptional record of accomplishment in applying new technologies to the E&P business. Chroma Energy is pleased to be invited to join their team."
Charged with maintaining an adequate supply of energy to sustain Mexico's thriving economy, PEMEX is Mexico's national petroleum manager and is an internationally competitive company with a clear focus on oil and gas development.
Juan Mitterhofer, general manager, G&W Systems, added "PEMEX have been impressed with the level of geological detail that can be seen using pattern recognition tools and the ability to quickly extract these patterns from seismic data. We are extremely pleased to work with Chroma Energy on this project for PEMEX."