Apache Selects Schlumberger Petrel Workflow Tools

Schlumberger says that Apache Corporation has selected Petrel(a) software as its primary reservoir modeling workflow tool. This will enable Apache asset teams to integrate multiple technical disciplines from seismic to simulation in an intuitive and collaborative environment.

Schlumberger and Apache have also signed a Technology Alliance Agreement to work together on emerging technologies and the streamlining of workflows.

Petrel Windows(R)-based workflow tools will interface directly with Apache's existing OpenWorks(R) corporate data stores via OpenSpirit(R), avoiding the need for any migration of data. Apache will replace its various legacy interpretation packages with Petrel tools, enabling complete seismic-to-simulation workflows within a single application.

"In both new assets and older fields, leveraging technology is a key element to profitability and adding value for our shareholders," said Steve Farris, CEO, Apache. "New insights and efficiencies from technologies within the Petrel suite of workflow tools provide significant potential benefits to companies like ours."

Under the terms of the Technology Alliance Agreement, Schlumberger will provide Apache with early access to additional Schlumberger technology, while Apache will give invaluable operator feedback to enable improvement in exploration and production (E&P) workflows.

"The intrinsic value of technology can best be realized when it is applied to the real problems faced by oil and gas companies," said Andrew Gould, chairman and CEO, Schlumberger. "Having a fast-moving independent operator like Apache involved in workflow development will help ensure that these products are targeted firmly on customer needs."