Gazprom Signs Access Agreement with Paradigm

The agreement provides Gazprom a broad range of the Paradigm subsurface E&P asset management technology.

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Aug 12, 2010, 09:10 ET

GEORGE TOWN, Cayman Islands, Aug. 12 /PRNewswire/ -- 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 signing of a multi-year software license access agreement with Gazprom Group Company – LLC "Gazprom geofizika" for the software usage by Gazprom Group companies. The agreement allows the Group's enterprises to use Paradigm solutions for a broad range of subsurface E&P asset management requirements.

Gazprom will deploy Paradigm solutions for seismic processing, interpretation, reservoir characterization and modeling. Paradigm will also provide training to users at Gazprom who will take advantage of the software during 2010 and beyond. Geoscientists and engineers in ten Gazprom Group enterprises will have access to Paradigm software. This will allow the company to easily deploy workflows and knowledge developed in any one of its subsidiaries at other Group enterprises.

"Our goal is to provide Gazprom with a clear competitive advantage through the most innovative and sophisticated technology," said Mikhail Erchenkov, Paradigm Director, Sales and business development. "We look forward to further expanding our cooperation with Gazprom and to ongoing success together."

For more information on Paradigm products and services, please visit www.pdgm.com, or e-mail [email protected].

About Paradigm™

Paradigm Ltd. (www.pdgm.com) and its affiliates are industry leaders in digital subsurface asset management, serving oil and gas companies worldwide. Paradigm technology solutions for seismic processing and imaging, interpretation and modeling, reservoir characterization and petrophysics, and well planning and drilling operate in an open environment to accelerate results. Paradigm has a global network of sales, consulting and support.

The following are trademarks or registered trademarks of Paradigm Ltd. 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. Please read the Paradigm notice on forward-looking statements.

About Gazprom

OAO "Gazprom" is a global energy company. Its major business lines are geological exploration, production, transportation, storage, processing and marketing of hydrocarbons as well as generation and marketing of heat and electric power.