Queiroz Galvão Exploração & Produção chooses Petrel E&P as its sole G&G software platform

Rio de Janeiro, June 11th, 2012 - Queiroz Galvão Exploração e Produção S.A., a wholly-owned subsidiary of QGEP Participações S.A. (BMF&Bovespa: QGEP3) has chosen the Petrel E&P software as its sole platform for geology and geophysics workflows, together with Techlog for petrophysics flows.

In order to take maximum advantage of the recent exploration concessions, QGEP conducted a 3-month competitive evaluation process with the world’s leading suppliers of E&P software, after which the Company’s geoscientists decided that Schlumberger’s Petrel E&P software platform presented the most stable architecture and the performance that the Company was looking for. As a result, it chose Petrel and Techlog as the best solutions for increasing productivity and inter-disciplinary integration.

The Petrel E&P software platform helps increase reservoir performance and improves the productivity of the team responsible for the Company’s assets. Geophysicists and geologists can develop collaborative workflows and integrated operations, thereby speeding up their processes. Petrel unifies flows for the E&P teams, eliminating the disparities in the traditional systems in which workflows had to be transferred from one technical domain to the other.

QGEP’S Production Department also acquired PIPESIM, a multiphase flow simulator, and OFM, a reservoir analysis software, both of each will help the Company during the development stage and in production monitoring.

"We are very pleased that QGEP chose Petrel as its exploration and development solution. The statistics show that, on average, only two or three exploration wells are successful. While new seismic technologies permit a more accurate evaluation of the risks associated with reservoir rock and traps, around three quarters of exploratory wells end up dry due to an inadequate understanding of the migration and accumulation process, as well as the cap rock. Petrel gives oil and gas companies a standardized process for developing a deeper understanding of migration, accumulation and cap rock risks", declared Tony Bowman, CEO of Schlumberger Information Solutions (SIS). "We are looking forward to helping QGEP with their exploration efforts", he concluded.

Updated in  2014-01-08T21:08:21
All the dates of this page are presented in official timezone of Brasilia - Brazil.


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