Schlumberger announced that Chevron has selected Petrel seismic-to-simulation software as one of its next-generation interpretation and earth modeling frameworks.
Chevron business units around the world will now have Petrel software available for integrating geology and geophysics workflows.
According to Peter Breunig, chief information officer of Chevron Energy Technology Co., “Following our internal needs analysis and an extensive market assessment of available products, Chevron selected the Petrel high-performance interpretation and modeling framework solution. We believe it will significantly enhance our teams’ ability to analyze data much more quickly and effectively in a collaborative environment, as well as help reduce the risks associated with exploration. The Petrel framework solution will be integrated with Chevron’s proprietary technology, deployed globally throughout our E&P organization, and will be a key tool for our business operations.”
Using Petrel software, Chevron will develop and deploy proprietary geological and geophysical workflows in addition to standardizing processes. With Petrel all workflow processes support a unified earth model for improved end-user productivity and better decisions in tight timeframes with reduced uncertainty.
“Chevron required a solution that allowed its end-users to easily adopt new proprietary technology for improved reservoir characterization. Petrel has the ability to absorb new technology plug-ins developed using the Ocean application development framework,” said Olivier Le Peuch, president, Schlumberger Information Solutions.
Chevron and Schlumberger are developing the next-generation reservoir simulator, Intersect. The selection of Petrel as one of the next-generation solutions complements this development and will in the future enhance seismic-to-simulation workflows.
For more information, visit www.slb.com.
Recommended Reading
Dividends Declared in the Week of May 6
2024-05-10 - Here is a selection of upstream, midstream and service and supply companies’ dividends declared in the past week.
Permian M&A: Oxy Shops Delaware Assets, Family Oil Cos. Stand Out
2024-05-10 - As operators scour the Permian Basin for M&A opportunities, they’re keeping an eye on a tepid divestiture market. Family-owned oil companies also stand out among the pack of private inventory holders remaining in the Permian, according to Enverus Intelligence Research.
GeoPark, Vitol Sign Offtake Deal for Llanos 34 Block
2024-05-10 - Under the agreement, GeoPark will sell and deliver to Vitol a minimum of 20,000 bbl/d of oil from the Llanos 34 Block in Colombia, which GeoPark holds 45% working interest.
Enbridge Plans to Increase Permian Oil Pipeline’s Capacity
2024-05-10 - Midstream company Enbridge announced an open season on the Gray Oak Pipeline for a proposed 120,000 bbl/d expansion and updated its M&A efforts.
Energy Transition in Motion (Week of May 10, 2024)
2024-05-10 - Here is a look at some of this week’s renewable energy news, including $1.5 billion in investment commitments for low-carbon energy initiatives.