A license agreement provides ONGC with a ‘central server’ license for all Paradigm’s interpretation, modeling, reservoir characterization, well planning and drilling software. The deal is valued at $3 million and a separate maintenance and support contract is currently being negotiated.
ONGC exploration director Dinesh Kumar Pande said, ‘We are leveraging competitive advantages in R&D and technology by integrating enterprise-level software including that from Paradigm. Cost-effective, real-time access to these tools will provide a valuable link throughout all exploration sectors of our corporation.’ Paradigm COO Jorge Machnizh added, ‘The central server provides access to software for 27 geographically dispersed units and represents a cost effective solution to ONGC’s requirements.’
Chevron has also signed a multi-year, ‘million dollar’ deal with Paradigm for the supply of a ‘next generation’ interpretation and modeling solution. Paradigm’s interpretation and modeling tools will be integrated with Chevron’s proprietary E&P systems. Paradigm will partner with Chevron Energy Technology Company (ETC) to implement the solution worldwide and provide further technology development. Another agreement extends Chevron’s Geolog license.
ETC CIO Peter Breunig said, ‘After an extensive internal assessment and market review, we selected Paradigm for its strength in advanced interpretation and modeling workflows. Paradigm’s will be one of the key technologies deployed globally throughout our E&P organization and their framework will be integrated with our proprietary technology.’
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