Petroleum Geo-Services’ interpretation software unit Tigress has been bought by its management. Based in Marlow, UK, Tigress has some 150 software installations in 42 countries. The company develops and markets a suite of reservoir interpretation software tightly integrated around an Oracle database.
Diz Mackewn, President of PGS Marine Geophysical comments, “This deal is part of PGS’ policy to concentrate on core business activities. The deal allows a successful relationship for both companies by way of an ongoing corporate license agreement for the complete TIGRESS software portfolio”.
Tigress Geosciences chairman David Sullivan added “This transaction, which has been planned for some time, creates the industry’s only independent software producer with a totally integrated product covering the interpretation tools from Geophysics to Reservoir Simulation.” The company reports a number of recent sales successes in the Russian Federation, Africa and South East Asia. See next month’s Oil IT Journal for an exclusive interview with Sullivan.
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