LONDON, July 26, 2012—Schlumberger, Chevron Corporation (NYSE: CVX) and Total today announced Total is joining the collaboration to further develop the INTERSECT† next-generation reservoir simulator. Total will contribute engineering resources and expertise to expand the INTERSECT simulator effort.
The INTERSECT simulator is an industry first, combining Chevron’s reservoir simulation capabilities and reservoir management experience with the leading software development capability and commercial experience of Schlumberger. Using advanced mathematical techniques, the INTERSECT simulator goes beyond the capabilities of current-generation software to simulate large and complex reservoirs using high-resolution models. This allows operators to test a large number of scenarios to increase the effectiveness of development plans and design innovative production systems to maximize field recoverable reserves.
"We look forward to a productive partnership between the three parties and welcome the contribution of Total to continue to broaden INTERSECT’s capabilities," said Ashok Belani, executive vice president, Technology, Schlumberger. "The jointly developed product will leverage the practical and global expertise of Chevron and Total in managing diverse and complex oil and gas reservoirs.”
“The INTERSECT simulator is being successfully deployed around the world by Chevron and other oil and gas companies," said Paul Siegele, president, Chevron Energy Technology Company. “INTERSECT’s success reflects Chevron’s belief that technology and partnership can transform energy challenges into opportunities. Through our partnerships we create value, innovate and drive results.”
“By joining the INTERSECT collaboration, Total confirms its long-term commitment to advanced reservoir simulation technology,” said Olivier de Langavant, senior vice president, Strategy, Business Development and R&D, Total E&P. “Together with Chevron and Schlumberger, Total will bring its best experts to further develop and customize the INTERSECT simulator, making it the reference simulator for challenging assets.”
The development of the INTERSECT simulator began in 2000 as an extensive research and development effort between Chevron and Schlumberger, which was released commercially in 2009. Total contributed thermal simulation expertise to the development effort leading to the 2011 release of the thermal option in the INTERSECT software.
For additional information, visit: www.slb.com/intersect.
Schlumberger is the world's leading supplier of technology, integrated project management and information solutions to customers working in the oil and gas industry worldwide. Employing approximately 115,000 people representing over 140 nationalities and working in approximately 85 countries, Schlumberger provides the industry's widest range of products and services from exploration through production.
Schlumberger Limited has principal offices in Paris, Houston and The Hague and reported revenues of $36.96 billion in 2011. For more information, visit www.slb.com.
Chevron is one of the world's leading integrated energy companies, with subsidiaries that conduct business worldwide. The company's success is driven by the ingenuity and commitment of its employees and their application of the most innovative technologies in the world. Chevron is involved in virtually every facet of the energy industry. The company explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and other energy products; manufactures and sells petrochemical products; generates power and produces geothermal energy; provides energy efficiency solutions; and develops the energy resources of the future, including biofuels. Chevron is based in San Ramon, Calif. More information about Chevron is available at www.chevron.com.
Total is one of the largest integrated oil and gas companies in the world, with activities in more than 130 countries. The Group is also a first rank player in chemicals. Its 96,000 employees put their expertise to work in every part of the industry – exploration and production of oil and natural gas, refining and marketing, new energies, trading, and chemicals. Total is working to help satisfy the global demand for energy, both today and tomorrow. For more information, visit www.total.com.
†INTERSECT was jointly developed by Schlumberger, Chevron and Total
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