BP gets the ’probe

BP has signed with Magic Earth for a corporate license to the GeoProbe volume visualization software.

BP and Magic Earth announced today the signing of a corporate lease agreement for Magic Earth’s high-end volume visualization and interpretation technology and related services. The agreement allows for immediate deployment of Magic Earth’s flagship product, GeoProbe, within BP worldwide. PDM learned that the ‘probe will be deployed on locations in Houston, the United Kingdom and Alaska.


Magic Earth describes GeoProbe as "advanced, multi-attribute visual interpretation software" which transforms massive seismic datasets, well logs and other related data into "lucid, interpretable 3D images" of hydrocarbon reservoirs in real time. The technology’s speed and capability enable users, from geoscientists to business managers, to complete "comprehensive analyses of the earth’s subsurface and make better-informed decisions about exploration and production activities in hours and days instead of weeks and months."


Commenting on the announcement, Steve Peacock, Vice President of Upstream Digital Business for BP, said, "BP’s agreement with Magic Earth complements our existing petrotechnical applications suite and supports our focus on accelerating Upstream growth and performance. We believe that this technology will significantly improve our productivity, decision making and opportunity generation along the full value chain, resulting in rapid, quality prospect generation, shorter development cycle times, and additional in-field opportunities. It also reflects our intent to be progressive and innovative in the rapid application of new, leading-edge technologies."


Michael Zeitlin, Chairman and Chief Executive Officer of Magic Earth, added, "Magic Earth is delighted by BP’s acquisition and application of our technology. Our dynamic volume visualization and interpretation system has begun a revolution in exploration and production. Under this agreement, we will cut BP’s cycle time in 3D interpretation while improving the company’s exploration and production evaluations and drilling programs." More from www.magic-earth.com.

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