Build not Buy is Back! (September 2000)
Chevron is sharing technology with Schlumberger and Paradigm Geophysical in separate research projects.Bucking the buy not build trend in E&P software, Chevron and Schlumberger are to cooperate on the development of new reservoir optimization tools.
Simulation
The program will focus on speeding reservoir simulation and on improve modeling of geology and wells. Both companies will share in the intellectual property resulting from this initiative.
San Ramon
An eight-person team will work on the project in Chevron's San Ramon, Calif. facility. Software developed under the program may be commercialized by GeoQuest.
NMR
In a separate agreement, with Paradigm Geophysical and Chevron are collaborating
on the transfer of Chevrons Nuclear Magnetic Resonance (NMR) technology to
Paradigm's
GeoLog product.
Paul
Chevrons VP Technology Don Paul said We are pleased to leverage our reservoir characterization expertise and to make it available to the industry through our cooperative technology development agreement with Paradigm.
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