MEXICO CITY, March 3, 2014 /PRNewswire/ -- Paradigm® (www.pdgm.com) announced today that Mexico seismic services company COMESA (www.comesa.mx) has incorporated the full Paradigm software suite for seismic processing & imaging, interpretation & modeling, and reservoir characterization, including GeoDepth®, SeisEarth® and Geolog®. The transaction, part of continued Paradigm growth in Latin America, sets the stage for future collaboration with companies like COMESA that are rapidly expanding their exploration and production operations in the region.
COMESA will incorporate the software into its service offerings for clients in Mexico and its expansion into other Latin America countries, including Bolivia, Colombia and Peru, as well as the South Texas Eagle Ford Shale. To support this, the company has recently broadened its primary focus on ground seismic acquisition for exploration and production to marine seismic and transitional zones. As the first Latin American company with ten thousand electronic multi-component stations, COMESA consistently expands its seismic technology capabilities, implementing an internal system for business intelligence (BI) and monitoring to test and select new and efficient technologies.
With seismic processing and imaging solutions like GeoDepth and the 3D seismic interpretation applications SeisEarth and VoxelGeo®, COMESA can get a better subsurface understanding related to geological models, risk and uncertainty, and improve cycle time through more effective cross-functional collaboration among asset teams. The agreement also provides licenses for reservoir characterization solutions, including Geolog for advanced petrophysical analysis and Probe®, which supports AVO analysis and interpretation.
"Operators in Mexico and Latin America are pressured to make quick, reliable business decisions for new discoveries and to exploit reserves already discovered," said Adan Oviedo, managing director at COMESA. "Using Paradigm among others software tools and proprietary processes at COMESA, we were able to reduce the time from seismic acquisition to first oil production by 40% (from 15 months to 180 days) for our client Petróleos Mexicanos. For us, that's a huge added value that we can offer to our clients – supported by Paradigm's established presence in Latin America and its integrated solutions for seismic processing and interpretation."
"With this agreement, Paradigm is strengthening its growing presence in Latin America and supporting the region's operations in complex environments, such as compact rock deposits, shale oil and gas reserves and deep water deposits," said Angel Garcia, Mexico country manager for Paradigm. "Companies like COMESA are recognizing the value of Paradigm solutions in reducing uncertainty and improving reliability through better seismic data analysis, interpretation and modeling of the subsurface."
The deal also sets the stage for future collaboration between Paradigm and COMESA for the innovative use of Paradigm software solutions in Latin America oilfields and the development of new capabilities. "We develop strategic relationships with suppliers like Paradigm, to complement our capacity to execute on projects, create internal competencies and respond quickly to the requirements of our customers," added Oviedo.
Paradigm (www.pdgm.com) is the largest independent developer of software-enabled solutions to the global oil and gas industry. Paradigm easy-to-use technology and workflows provide customers with deeper insight into the subsurface by combining leading-edge science, high-performance desktop and cluster computing, and scalable data management, delivering highly accurate results and productivity without compromise.
The following are trademarks or registered trademarks of Paradigm B.V. and/or its affiliates and subsidiaries (collectively, "Paradigm"): Paradigm®, Paradigm logo and/or other Paradigm products referenced herein. All other trademarks are owned by their respective owners.
Compania Mexicana de Exploraciones S.A. de C.V., COMESA, (www.comesa.mx) is a state-owned Mexican company. COMESA operations are focused on designing integral solutions for the exploration and exploitation of hydrocarbons all over the Mexican country, by using state-of-the-art technologies, social responsibility and a commitment to the development and well-being of its human assets. The company was founded in 1968 to support specific needs of Petróleos Mexicanos (PEMEX) and operated as a reliable and strategic ally.
PARADIGM MEDIA CONTACT
Tel: +1 713.393.4109