Schlumberger Acquires Production Optimization Technology from Aspen

Aspen Technology and Schlumberger Information Solutions, the respective market leaders in process and reservoir engineering software, announced that SIS has purchased the exclusive rights to market, sell and develop products and solutions using Aspen Asset Builder™ in the upstream drilling and production market. Aspen Asset Builder technology enables the integration of simulation models from a variety of sources.

"Our goal with AspenTech remains unchanged—to drive greater operational efficiency by eliminating the divide between upstream and downstream business processes," said Olivier Le Peuch, president, SIS. "Over the past several months, the oil and gas industry has responded favorably to the integration of our strong domain capabilities. By taking this next step, we can better serve the upstream market through accelerated technology delivery and a unified market presence."

In a separate agreement, SIS is granted the rights to develop, include or embed Aspen Operations Manager™ as a technology component in products it develops for upstream oil and gas. Aspen Operations Manager is an infrastructure technology that enables analysis and visualization of production operations information. These agreements illustrate the two organizations' ongoing efforts to provide the oil and gas industry with a full-scope, end-to-end software system for oilfield management and production optimization.

"We are delighted to expand our relationship with Schlumberger, whose global understanding of the oilfield and best-in-class production software are perfect companions for AspenTech's deep process industry expertise," said Mark Fusco, president and CEO, AspenTech. "This new agreement reaffirms AspenTech's commitment to this important market segment and enables us and SIS to bring high-value solutions to market more quickly, fully capitalize on our individual strengths and technologies, and ultimately deliver significant value to our customers in the oil and gas market."

Schlumberger and AspenTech have proven the value of applying the rigor of downstream processes to upstream simulations over the past 20 months. At the September 2005 SPE ATCE meeting, SIS launched Avocet* Integrated Asset Modeler, which links the entire production process—reservoir, wells, surface infrastructure and process facilities, as well as an asset's operations parameters, financial metrics and economic conditions—into a single environment for decision making.