$14 million Statoil deal (April 2004)

$14 million Statoil deal (April 2004)

Statoil has extended its contract with Roxar for permanent downhole monitoring systems in a two year, $14 million deal.

Statoil has awarded Roxar a two-year, $14 million contract extension for permanent downhole monitoring systems (PDMS) in the North Sea. The instrumentation provides critical information relating to downhole pressure and temperature, enabling Statoil to improve reservoir management and production.

Hviding

Gunnar Hviding, MD of Roxar’s Flow Measurement business said, ‘This extension recognizes the role downhole instrumentation and associated data acquisition and management plays in improving oil and gas recovery. Roxar has proven its ability to maintain the highest product standards and deliver a reliable high-performance solution for reservoir management.’

Framework

Under the framework agreement, Roxar provides project planning, installation and maintenance services to help Statoil maximize its investment in downhole instrumentation. Roxar has held an agreement to be Statoil’s primary PDMS vendor in designated North Sea fields since 1987. For more on Roxar’s strategy and products see our interview with Roxar president and CEO Sandy Esslemont on page 3 of this issue.

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