(SAN ANTONIO: April 29, 2008) Paradigm™ (www.pdgm.com), a leading provider of enterprise software solutions to the global oil and natural gas exploration and production (E&P) industry, announces that SCAN Geophysical ASA (SCAN) has selected Paradigm’s seismic processing and imaging software for use on SCAN’s latest 3D vessel M/V SCAN Stigandi. The announcement was made at the 2008 American Association of Petroleum Geologists (AAPG) Annual Convention and Exhibition in San Antonio, Texas.
SCAN selected Paradigm software solutions to enhance its offshore data acquisition quality control and expand its onboard processing capabilities. Paradigm Focus® generates 2D and 3D images of the subsurface, and offers a unique combination of production and interactive seismic data processing. The software is known for its maturity and stability, breadth of geophysical applications and versatile programming environment for client-guided customization. Paradigm GeoDepth® is a fully integrated solution for 2D/3D velocity model building and seismic imaging. Enabling the construction of a variety of 3D velocity/depth model types from pre-processed seismic data, Paradigm GeoDepth assures highly productive model-building and results in better geological models.
“SCAN will imminently be releasing its latest 3D vessel, the M/V SCAN Stigandi, that will be equipped with Paradigm technology,” said Stephane Touche, senior vice president and chief operating officer for SCAN. “This will ensure high acquisition quality and help us achieve our goal to become industry leaders with the most advanced technical capabilities available.”
“Our relationship with SCAN allows for the delivery of high-quality seismic data through modeling solutions that maximize exploration and production results for customers,” said Jorge Machnizh, Paradigm's president and chief operating officer. “For Paradigm, this represents substantial expansion into a growing offshore seismic acquisition market. Paradigm’s GeoDepth and Focus solutions allow SCAN to deliver timely and optimal results to its oil and gas exploration clients around the world.”
For more information on Paradigm products and services, contact your regional office directly (information at www.pdgm.com), or e-mail info@pdgm.com.
About Paradigm™
Paradigm B.V. (www.pdgm.com), an industry leader in digital subsurface asset management, helps global oil and gas companies locate new reserves and optimize production in complex geological areas. Paradigm’s technology advances the science of hydrocarbon detection with solutions in seismic data processing and subsurface imaging, prospect interpretation and modeling, reservoir characterization, and well planning and drilling. These exploration and production solutions operate in an open environment with connectivity to third-party data stores to accelerate project creation and turnaround. Paradigm has a global network of sales, services and user support, serving major oil and gas producing regions around the world. For additional information visit Paradigm’s website at www.pdgm.com.
The following are trademarks or registered trademarks of Paradigm B.V. or of its affiliates (collectively, “Paradigm”): Paradigm™, Paradigm logo and/or other Paradigm products referenced herein. All other trademarks are owned by their respective owners.
About SCAN Geophysical ASA
SCAN Geophysical ASA (www.scangeo.com) was established in 2002 as an international seismic data acquisition company specializing in both marine streamer seismic and ocean bottom cable seismic, currently operating one High-End 2D and one 3D streamer vessel. A program of four new 3D streamer vessels is ongoing comprising one conversion and three new purpose-built 3D vessels with up to 10 streamers capacity. Administration is located in Oslo, with representatives in Caracas, Houston and Singapore.
SCAN Geophysical ASA is listed on Oslo Stock Exchange’s Oslo Axess list under ticker code SCANG, on website www.ose.no.
Forward-Looking Statements
Some of the statements in this press release may constitute "forward-looking statements" that do not directly or exclusively relate to historical facts. These forward-looking statements reflect our intentions, plans, expectations, assumptions and beliefs about future events and are subject to risks, uncertainties and other factors, many of which are outside of our control. Important factors that could cause actual results to differ materially from the expectations expressed or implied in the forward-looking statements include known and unknown risks. Because actual results could differ materially from our intentions, plans, expectations, assumptions and beliefs about the future, you are urged to view all forward-looking statements contained in this press release with caution. Paradigm does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.