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March 10, 2009

StatoilHydro to deploy Paradigm’s subsurface E&P asset management suite

Allows to deploy workflows and knowledge, developed in Norway, throughout all their offices around the world

By CBR Staff Writer

Paradigm, a provider of enterprise software to the oil and gas companies, and StatoilHydro have entered into a multi-year agreement to deploy a broad suite of Paradigm’s subsurface exploration and production asset management software applications in StatoilHydro’s operations across the world.

StatoilHydro has said that its geoscientists, in its offices across the world, will now be able to benefit from access to Paradigm petrophysics, depth conversion, interpretation and processing and imaging technology.

This will reportedly allow StatoilHydro to easily deploy workflows and knowledge, developed in Norway, throughout all of their international offices around the world.

Oddvar Vermedal, manager of global IT subsurface services for StatoilHydro, said: StatoilHydro has entered into this agreement based on the long standing history between StatoilHydro and Paradigm, and the high quality of the results we are able to obtain when using Paradigm technology.

StatoilHydro places a high degree of value on best-in-class technology, and establishing this global agreement with Paradigm is consistent with our exploration and production (E&P) goals.

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