Landmark has signed a technology access agreement with the Kuwait Oil Company (KOC). The five-year contract creates a strategic relationship that gives the KOC access to the full suite of Landmark’s geophysical, geological, reservoir, data management and economic software.
Landmark is also to provide on-site technical support and project consulting services. Landmark president Andy Lane said, “We are extremely pleased to have formed this strategic relationship with the Kuwait Oil Company, the first of its kind with a national oil company in the Middle East. This technology agreement will provide KOC with access to a fully integrated, state-of-the-art software suite that will enable their geoscientists and engineers to analyze opportunities quickly and efficiently.”
KOC chairman Ahmad Al-Arbeed added, “The partnership with Landmark and our open access to this leading technology ensure that KOC will continue to be one of the most efficient managers of hydrocarbons in the region and one of the lowest-cost oil producing companies in the world.”
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