Repsol Sinopec Brasil Selects the Paradigm Interpretation Software Suite

   Repsol Sinopec Brasil Selects the Paradigm Interpretation Software Suite

The company will use Paradigm solutions to explore and develop a major
hydrocarbon discovery in the Campos Basin

PR Newswire

HOUSTON, Sept. 23, 2013

HOUSTON, Sept. 23, 2013 /PRNewswire/ --Paradigm® (www.pdgm.com) and Repsol
Sinopec announced that Repsol Sinopec (www.repsolsinopec.com.br) has adopted
Paradigm software solutions and services for its major exploration projects in
the Campos Basin offshore Brazil. The agreement provides licenses for the
Paradigm interpretation software suite SeisEarth^®, which includes such
industry-leading applications as VoxelGeo^® and Stratimagic^®, as well as the
Epos^® data management and interoperability system. The announcement was made
at the Society of Exploration Geophysicists International Exposition and 83rd
Annual Meeting in Houston, Texas.

(Logo: http://photos.prnewswire.com/prnh/20110317/CL67156LOGO)

Repsol Sinopec chose Paradigm following an intensive evaluation process, in
which the company's software was measured against Repsol Sinopec's exploration
and production requirements. "Our projects are carried out in very deep water
in the pre-salt Campos Basin", said Diana Sineva, exploration geophysicist at
Repsol Sinopec. "In such a geologically complex environment, we need advanced
and powerful interpretation and modeling solutions. After evaluating the
software, we concluded that Paradigm's applications would give us the most
accurate results in the shortest amount of time."

Repsol Sinopec, a joint Spanish-Chinese venture established in 2010, is one of
the largest energy companies in Latin America. Its diversified portfolio of
assets includes one producing field, eight discoveries, and other exploratory
projects. The venture recently announced a major hydrocarbon reserve discovery
in the Campos Basin, off Brazil's southeastern coast. This was one of the top
five discoveries in the world in 2012, with an estimated recoverable volume of
at least 1.2 billion barrels of oil and gas.

"We are delighted that Repsol Sinopec has chosen Paradigm as its
interpretation and modeling software provider", said Paradigm Brazil Country
Manager Dayse Netto. "Paradigm products are designed to offer optimal
productivity without compromising result accuracy. Our team will work closely
with Repsol Sinopec to ensure they gain maximum information from their data,
giving them the confidence they need when drilling in this very challenging
environment."

Repsol Sinopec's exploration asset teams are expected to use the Paradigm
software in the coming months, in their development of the Pao de Acucar
(Sugar Loaf) well in the Campos Basin.

For more information on Paradigm's presence at SEG, please visit Booth #2842.
For more information on Paradigm products and services, visit www.pdgm.com, or
e-mail info@pdgm.com.

About Paradigm^®
Paradigm (www.pdgm.com) is the largest independent developer of
software-enabled solutions to the global oil and gas industry. Paradigm's
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 Ltd. or of
its subsidiaries (collectively, "Paradigm"): Paradigm, Paradigm logo and/or
other Paradigm products referenced herein. All other trademarks are owned by
their respective owners.

About Repsol Sinopec Brasil
Repsol Sinopec is one of the leading energy companies in exploration and
production of oil and gas in Brazil. Since 1997 in the country, the company
became one of the largest energy companies in Latin America, being one of the
first to produce in the pre-salt, the Sapinhoa mega-field, in the Santos
basin.

In 2012, Repsol Sinopec was responsible for the greatest discovery ever made
by a private oil company in Brazil: the Pao de Acucar well, in block BM-C-33,
in the pre-salt of Campos Basin, which had already been discovered Seat and
Gavea wells. Altogether, it is estimated that the three reservoirs contain
over 700 million barrels of extremely light oil (41° API) and 3 trillion cubic
feet of gas (equivalent to 545 million oil barrels).

Paradigm Media Contact
Samhita Shah
Tel: +1 713.393.4109
samhita.shah@pdgm.com

SOURCE Paradigm

Website: http://www.pdgm.com
 
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