JKX Oil & Gas PLC Selects Paradigm for Seismic to Simulation Workflow
The company to deploy Paradigm seismic interpretation, reservoir modeling and petrophysical suites as the company standard toolkit.(VIENNA: May 25, 2011) Paradigm™ (www.pdgm.com) announced today the signing of a multi-year software license agreement with JKX Oil & Gas plc (www.jkx.co.uk) for a seismic-to-simulation workflow to be deployed as the company’s standard toolkit. The announcement was made at the 2011 European Association of Geoscientists and Engineers (EAGE) Annual Conference and Exhibition, during the Paradigm 2011 Industry Briefing. The contract will provide JKX with access to Paradigm™ SeisEarth® for seismic interpretation, Paradigm™ SKUA® for reservoir modeling and Paradigm™ Geolog® for formation evaluation and petrophysics.
“For several years JKX has successfully used Paradigm SeisEarth for our exploration 2D and 3D based seismic interpretation. After a thorough review process JKX selected additional Paradigm petrophysical and model building software. We believe it offers the most technologically advanced and time efficient platform on which to develop our reservoir models,” said Ritchie Wayland, exploration manager at JKX.
Historically, seismic interpretation, well data analysis and the creation of the reservoir model have been largely serial and disconnected processes. Today, Paradigm workflows significantly reduce project timelines while delivering far greater accuracy through connected and iterative processes that incorporate all available data.
The combination of a leading seismic interpretation environment with new and innovative geomodeling technologies enables seismic-to-simulation workflows that are not possible on any other platform. These include the validation of interpretation with true 3D paleo-flattening, prospect qualification with spill-point uncertainty analysis, the generation of high-resolution velocity models, and the construction of geologically-correct reservoir models.
“I am delighted that JKX has selected Paradigm’s advanced integrated interpretation, modelling and geophysical tools to enable the extraction of optimum reservoir understanding from their field and reservoir data,” said Richard Jefferies, Paradigm’s regional vice-president. “We look forward to supporting JKX’s exploration and development objectives of fully-informed drilling decisions and reduced reservoir risk across the region.”
For more information on Paradigm products and services, visit www.pdgm.com, or e-mail email@example.com.
Paradigm (www.pdgm.com) is the largest multi-national software company exclusively focused on the delivery of analytical and information management solutions for the discovery and extraction of subsurface natural resources. Serving the oil & gas and mining industries since 1987, Paradigm, with its 700 employees, operates globally via its 31 client service, technology and administrative facilities located in 27 countries.
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About JKX Oil & Gas plc
JKX Oil & Gas plc (www.jkx.co.uk) is a FTSE 250 exploration and production company. Listed on the London Stock Exchange, the Company’s principal interests are located in Ukraine and Russia, with additional interests in Bulgaria, Hungary and Slovakia.