Schlumberger Information Solutions Acquires Technoguide AS Business Unit

Schlumberger Information Solutions has agreed in principle to acquire the software and services business of Technoguide AS, developer of the industry-leading Petrel(TM) Workflow Tools. Since being formed in 1996, Technoguide has established itself as the leader in the reservoir modeling domain and the fastest growing software provider.

"We believe that our future in Schlumberger will be exciting for us and beneficial for the industry," said Technoguide president and CEO Jan Grimnes. "Through this combined offering, a much wider range of our clients' personnel can quickly model their reservoirs. They can completely build a model in a day and make updates in a matter of minutes. This brings a new level of excitement to reservoir modeling -- taking modeling mainstream. And now our clients can also rely on the support and consulting capability of the global SIS organization."

"By complementing the SIS leadership position in seismic and simulation with the modeling and workflow management strengths brought by Technoguide, we will provide our clients with the ability to have rapidly updateable and dependable models on which to base their business decisions. This is the cornerstone of real-time reservoir management," said SIS president Ihab Toma. "Being able to continuously update the model brings the reservoir to life for fast, dynamic and complete reservoir management. We call this the Living Model(TM)."

Users of the Living Model(TM) have the unique capability to span the breadth of reservoir characterization -- from seismic to simulation -- and dive into the details when it counts. The ability to model rapidly, as well as perform risk and uncertainty evaluation, allows users at all levels to build dependable models and instantly update decisions with the latest information throughout the life of the asset.