Bucking the ‘buy not build’ trend in E&P software, Chevron and Schlumberger are to cooperate on the development of new reservoir optimization tools.
The program will focus on speeding reservoir simulation and on improve modeling of geology and wells. Both companies will share in the intellectual property resulting from this initiative.
An eight-person team will work on the project in Chevron’s San Ramon, Calif. facility. Software developed under the program may be commercialized by GeoQuest.
In a separate agreement, with Paradigm Geophysical and Chevron are collaborating
on the transfer of Chevron’s Nuclear Magnetic Resonance (NMR) technology to
Chevron’s VP Technology Don Paul said “We are pleased to leverage our reservoir characterization expertise and to make it available to the industry through our cooperative technology development agreement with Paradigm.”
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