PetroChina Licenses Paradigm's Geolog Software

Paradigm has recently concluded a major sale of its reservoir characterization software to PetroChina. The enterprise agreement comprises multiple licenses for Paradigm's Geolog log management and petrophysics system, and offers a solution for 15 different oil fields.

The high-end Geolog configuration includes the Facimage electrofacies analysis and core data modeling program, the Geomage borehole image log processing module, the NMR processing, inversion and interpretation tool, and the corEval advanced core analysis system. The Stratimagic seismic facies classification and analysis solution is also included in the transaction, providing PetroChina with a best-of-class, comprehensive reservoir characterization solution.

Jiao Xuelin, Paradigm's Beijing chief representative, stated, "We see this deal as a major breakthrough into the Chinese market, and an endorsement of our top-of-the-line reservoir characterization solution, which includes both Geolog and Stratimagic."

Eldad Weiss, CEO of Paradigm added, "Through our office in Beijing, our local representatives are able to offer ongoing support and consulting to our customers, helping them maximize the benefits of our software solutions. We look forward to a long and mutually beneficial relationship with PetroChina."