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Petro-Canada selects MEPO

Thursday, Mar 06, 2008

Tool for Reservoir Engineering Simulation Studies.

February, 2008

Petro-Canada International selects MEPO as the standard workflow for Reservoir Engineering Simulation Studies.

Petro-Canada International deploy MEPO as the standard workflow tool for Reservoir Engineering studies. This is based on 18 months experience using MEPO.

Paul Armitage, Head of Reservoir Engineering, said, “Petro-Canada International has seen a dramatic reduction in the time taken to history match simulation models. This has been accompanied by an increase in the understanding of our reservoirs. We believe this workflow will allow us to reduce our level of risk by increasing our understanding of the reservoir.”

MEPO from SPT Group is a workflow tool that operates in conjunction with industry standard simulators to increase the quality and efficiency of engineering projects using assisted history matching and data analysis. It is effective in both green-field and brownfield developments. MEPO works to improve the history matching process and to increase understanding of future recoverable reserves.

Petro-Canada is one of Canada's largest oil and gas companies, operating in both the upstream and the downstream sectors of the industry in Canada and internationally. The Company creates value by responsibly developing energy resources and providing world class petroleum products and services. Petro-Canada is proud to be a National Partner to the Vancouver 2010 Olympic and Paralympic Winter Games. The Company's common shares trade on the Toronto Stock Exchange under the symbol PCA and on the New York Stock Exchange under the symbol PCZ.

MEPO is being deployed on many projects world wide to understand the risks associated with field development. SPT Group provides a combination of software and consulting services within multiphase flow and reservoir engineering for the oil and gas industry. SPT Group develops and markets well established products to the petroleum industry; OLGA®, edpm®, Drillbench® and MEPO®, affording customers the opportunity to maximise operations and reservoir performance, while minimising risk and downtime. Headquartered in Oslo, Norway; the SPT Group consists of full service subsidiaries in major E&P locations world wide.

 

Source: SPT Group

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