Schlumberger announces agreement to acquire SPT Group

Wednesday, March 21, 2012      
 
  • Schlumberger announced that it has entered into an agreement with Altor Fund II to acquire SPT Group-a privately owned software company specialized in dynamic modeling for the oil and gas industry.

The company provides a combination of software and consulting services for multiphase flow and reservoir engineering applications. Closing is subject to customary regulatory approvals.

'The dynamic modeling and reservoir optimization software of SPT Group will complement the existing Schlumberger production software portfolio,' said Tony Bowman, President, Schlumberger Information Solutions (SIS). 'In combination with the Petrel* E&P software platform and other SIS technologies, this will enable customers to further optimize production from reservoir performance to processing facilities.'

'This is a great testament to our employees and a remarkable opportunity for the company,' commented Tom Even Mortensen, Chief Executive Officer of SPT Group. He continued, 'Combining the skills, abilities, presence and technologies of the two companies will further increase the scale of our activities and enable continued delivery of products and services with the quality and pace the market demands.'

SPT Group Chairman and Altor Partner Reynir Indahl added, 'We are proud to have developed a very successful company together with SPT Group management, and believe that Schlumberger will be a great home for SPT and its employees.'


 

Join 80,000 oil and gas professionals who receive our weekly newsletter.

You may unsubscribe at any time with one click.

Article Tags

Schlumberger SPT Group Norway West Europe Acquisitions & Mergers


This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser. More


Related News


Upcoming OilVoice Training Course

Geomatics for Hydrocarbon Exploration and Production
This module is designed for people interested in the exploration and production of oil and gas who do not have a Geomatics background, specifically in GIS and remote sensing. It provides an introduction to GIS and remote sensing for geoscientists and non-geoscientists, though geoscientists already w...
London - 27 Oct


Trainer
Mike Phillips

Cost
£500

Discount Code
OilVoice-10 for 10% off any course.View Course

All OilVoice Training Courses
Popular Headlines View all


Latest Opinion View all

Join 90,000 other oil and gas professionals

Network with others, build your profile, and receive the latest oil and gas news in your inbox. It's free!

Create profile

Time for a change? All jobs Jobs near you

OilVoice Training All upcoming


About

OilVoice, established in 2002, is your leading source of upstream news, jobs and industry information.


Newsletter

Each week we send our weekly industry round-up. Why not try it? You may unsubscribe at any time.

Contact OilVoice

Milton Keynes
United Kingdom
Phone: +44 207 993 5991
Contact Us


Stay Connected


2015 © OilVoice  .  Privacy Policy  .  Terms of Service  .  Oil Careers  .  Advertise with us