Schlumberger Garners $13M Contract from Hydro

Schlumberger said that Hydro has selected its Petrel software as its workflow tool for subsurface reservoir characterization. The contract is valued at US$13 million.

Hydro exploration and production asset teams worldwide will use the Petrel software to develop and refine workflows across multiple technical disciplines.

"The ability to share knowledge and instantly update models with new data allows Hydro to optimize exploration and development plans based on analysis of numerous scenarios," said Justin Rounce, vice president, software, Schlumberger Information Solutions. "With the Petrel model centric workflow, Hydro exploration and production asset teams can benefit from much greater collaboration than has traditionally been possible."

At the outset of the software standardization project, Hydro required a more flexible portfolio of software that would better meet the needs of the organization, which is increasingly dependent on efficiency and mobility. An important requirement was a software portfolio that was integrated across the geoscience and engineering disciplines. Hydro chose the Windows-based Petrel software for seismic interpretation and well log correlation and as a complementary application for reservoir modeling.

Petrel is a complete seismic-to-simulation software solution, enabling static to dynamic workflows that extend into drilling and economics. With Petrel technology, all work processes lead to one unified earth model, enabling better decisions in tight timeframes with reduced uncertainty.