Roxar Snags Reservoir Model Contract

Roxar ASA has received a significant software service contract worth a total of NOK 27 million with a leading energy company in the CIS (Commonwealth of Independent States).

Expected to be completed by 2008, the contract is for service work related to building a 3D reservoir model using Roxar's IRAP RMS (TM). Based on this reservoir model, the customer will build a reservoir simulation model using Roxar's Tempest (TM) software in order to optimize reservoir production and increase recovery from oil fields.