(ROME, Italy: June 10, 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, announced today the worldwide release of Paradigm SKUA™ 2008 at the European Association of Geoscientists and Engineers (EAGE) 70th Annual Conference and Exhibition in Rome, Italy. The next-generation software environment allows novice-to-advanced geoscience users to easily produce highly accurate and realistic models of the subsurface in record time through the use of a proprietary 3D methodology.
The new Paradigm SKUA 2008 is a 3D modeling software environment that bridges the gap between seismic and simulation by removing current modeling limitations. The software platform leverages the innovative SKUA™ (Subsurface Knowledge Unified Approach) methodology. Its unified approach produces superior modeling results and enables engineers and geoscientists to build simulation models that realistically reflect reservoir locations and properties.
“This groundbreaking software development exemplifies Paradigm’s scientific contributions to subsurface modeling technology and our commitment to providing solutions that offer unconflicted vision,” said John W. Gibson, Jr., chief executive officer of Paradigm.
The SKUA 2008 automated, easy-to-use workflows eliminate common user frustrations, reduce model construction time from days to hours, deliver greater accuracy, and allow for better history matching and production forecasts. The product complements the robust Paradigm solutions for subsurface disciplines across the entire exploration, development and production value chain.
“SKUA 2008 embeds a native, full 3D description of the model volumes that removes the limitations of conventional ‘pillar-based’ methodology. The product makes possible quality geomodeling that was previously unavailable,” said Jean-Claude Dulac, executive vice president and chief architect at Paradigm. “SKUA will fundamentally change the way geoscientists model and quantify the subsurface for prospect evaluation or field development.”
Reservoir Architecture is the first workflow solution available on the Paradigm SKUA 2008 environment. It guides interpreters, reservoir modelers and engineers through easy-to-use steps to rapidly construct accurate 3D models. The solution allows for model creation based on all available, relevant data, without exception, and every modeling decision is recorded for fast model updating and auditing.
For a limited time, visit www.skuaisnow.com for detailed information on Paradigm SKUA 2008. Alternatively, for more information on Paradigm products and services, visit www.pdgm.com or email 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.
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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.