Chevron Selects Petrel Software From Schlumberger

Schlumberger announced today 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, CIO of Chevron Energy Technology Company, “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 their 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 Solution.

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.

About Schlumberger
Schlumberger is the world’s leading oilfield services company supplying technology, information solutions and integrated project management that optimize reservoir performance for customers working in the oil and gas industry. The company employs more than 76,000 people of over 140 nationalities working in approximately 80 countries. Schlumberger supplies a wide range of products and services from seismic acquisition and processing; formation evaluation; well testing and directional drilling to well cementing and stimulation; artificial lift and well completions; and consulting, software and information management. In 2006, Schlumberger operating revenue was $19.23 billion. For more information, visit www.SLB.com.

About Chevron Corporation
Chevron Corporation is one of the world’s leading integrated energy companies. The company has about 58,000 employees, and Chevron’s subsidiaries conduct business in approximately 180 countries. Chevron operates across the entire energy spectrum-exploring for, producing and transporting crude oil and natural gas; refining, marketing and distributing fuels and other energy products; generating power; designing and marketing large-scale energy efficiency solutions; and commercializing the energy resources of the future, including biofuels and other renewables. Chevron is based in San Ramon, Calif. More information about Chevron is available at www.chevron.com.


*Mark of Schlumberger


For further information, contact:

Susan Ganz
Media Relations Manager
Schlumberger Oilfield Services
Tel: +1 281 285 8245
sganz1@slb.com