BP Extends Agreement with AGM

AGM has announced the extension of a Corporate Enterprise Agreement with BP for use of AGM's high-end 3D Geological Interpretation and Visualization technology and related services. The agreement provides for continued access to AGM's flagship product, Recon®, as well as StratalSlice™, throughout BP world-wide. The multi-year contract also provides for a continued research and development partnership with BP, leveraging AGM's Recon geologic interpretation technology and BP's geoscience expertise and leadership. BP first entered into an agreement for the use of AGM’s leading interpretation technologies in 2005.

"The extension of our agreement with BP represents another important milestone in enabling the successful deployment of AGM's Recon® throughout BP," said Mauricio Arboleda, Chief Operating Officer of AGM. "Collaboration with BP has enhanced AGM's ability to develop and commercialize the leading-edge geologic interpretation technologies our customers demand. From the deployment of Recon at BP, AGM has gained experience in training and supporting customers of all sizes and geographic extents."