Landmark and Statoil Ink Drilling Technology Agreement

Landmark Graphics Corporation has signed a new multiyear drilling technology agreement with Statoil. This agreement will significantly enhance Statoil's subsurface analysis capabilities by complementing their existing geological and geophysical technology with the full Landmark suite of drilling software.

"Statoil has decided to enter into a Global Access Agreement for drilling technology with Landmark. This three-year agreement will allow virtually unlimited access to Landmark's drilling and technical engineering software and applications. Landmark will also supply technical drilling support, training and consulting services to Statoil," said Mads Grinroed, vice president, Drilling and Well Technology for Statoil.

"Landmark is very pleased to expand our strategic relationship with Statoil," said Andy Lane, president and CEO of Landmark. "Statoil's decision to extend its use of Landmark products and technology into the well planning and drilling area clearly demonstrates the value that it places on Landmark's innovative technology."

As a result of this agreement, Statoil will have achieved full integration of subsurface software technology for all of its domestic and international drilling divisions.

"Statoil's commitment to using Landmark's drilling software will enable them to handle the engineering complexity in all areas of well planning more effectively," said Bill Sanstrom, Landmark vice president, Drilling, Production and Economic Systems. "The integration of Landmark's drilling products with our OpenWorks(R) suite will also provide improved work processes for well planning and drilling operations, reducing cycle time and total drilling costs."