Repsol YPF has awarded Roxar a global software contract for the supply of Irap RMS, Roxar’s flagship 3D reservoir modeling software, for use by Repsol’s geologists, geophysicists and reservoir engineers. Repsol YPF owns 99% YPF, Argentina’s leading oil company and has operations in Libya, Venezuela, Bolivia, Brazil, Ecuador and the United States.
Roxar CEO, Sandy Esslemont said, ‘This deal strengthens our operations in South America, which supplies 14% of the world’s oil. However, many countries are past their production peak and the E&P sector is under pressure as companies look to maximize reservoir performance to sustain production and profitability.’
In a separate announcement, Roxar announced it has joined the Petrotechnical Open Standards Consortium (POSC). POSC CEO David Archer anticipates working with Roxar on extensions of WITSML to production objects via the POSC Integrated Operations SIG.
© Oil IT Journal - all rights reserved.