Landmark Graphics Wins 5-Year Statoil Contract

Landmark Graphics has been awarded a multi-million dollar, five-year technology and services agreement by Statoil. The agreement provides solutions for prospect generation, field development planning as well as drilling and completions, giving Statoil access to industry leading integrated technologies and E&P workflows across their company. This agreement represents an expansion of both technology and services over a prior five-year agreement between these two companies.

"Statoil's aim with this award is to maximize operational effectiveness through improved integration of all available data and enable closer collaboration between all disciplines involved," said Sjur Talstad, Senior Vice President Exploration & Reservoir Technology. "Landmark products are at the centre of our integration strategy. The continuation of using the Landmark software and services stimulates the involvement of all parts of the interdisciplinary asset team, and will keep focus on complex decision support."

Landmark successfully implemented its OpenWorks project database as the foundation of an integrated information management strategy for Statoil five years ago. This latest agreement builds upon that foundation and includes a broad range of Landmark's prospect generation and field development software that will support the exploration and development activities of Statoil. Landmark will also provide service support to ensure that Statoil's E&P specialists are able to extract maximum value from this technology investment.

"Landmark is pleased to extend our strong relationship with Statoil," said Andy Lane, president, Landmark. "Furthermore, we are delighted to play such a critical role in helping Statoil succeed in their strategy to maximize operational effectiveness across their asset teams while continuing to expand operations internationally."

"Statoil's decision to expand upon its agreement with Landmark clearly demonstrates the value that it places on Landmark's best in class technology and our ability to help them achieve world class performance," said Murray Roth, Executive Vice President, Marketing and Systems. "As a result of this agreement, Statoil will benefit from full integration of subsurface and drilling software technology for all of its domestic and international divisions, allowing cross-disciplinary access to shared data and applications, and enabling technical specialists to optimize their knowledge resources to assist with risk-based decision making."