SOURCE: Roxar

May 03, 2005 07:00 ET

Roxar Signs Technical Co-operation Agreement With Smartec

Companies to Partner to Bring Fiber Optic Monitoring Systems to Oil and Gas Sector

STAVANGER, NORWAY -- (MARKET WIRE) -- May 3, 2005 -- Roxar, a leading technology solutions provider to the upstream oil and gas industry, today announced the signing of a technical co-operation agreement with Smartec, a company based in Switzerland and specializing in advanced, harsh environment fiber optic sensors.

The agreement will allow the integration of Smartec's industry leading fiber optic metering and monitoring sensors into Roxar's permanent downhole monitoring systems, which provide essential information to operators on the location and nature of water breakthrough or gas coning.

Under the terms of the agreement, Smartec will serve as Roxar's development partner. Integrated fiber optic systems will provide Roxar with an even broader downhole product portfolio. This move into fiber optic sensing comes as a natural consequence of Roxar's strategy to be a complete solutions provider of instrumentation for Reservoir Production Optimization and Enhanced Oil Recovery.

Nicoletta Casanova, President and CEO of Smartec, welcomed the announcement: "Smartec's partnership with Roxar gives us access to a new exciting domain that needs an interdisciplinary approach to develop and deliver unique products to the oil & gas operators. This will be an important challenge that Smartec has to take up and succeed in through developing the best technical and cost-effective solutions."

Daniele Inaudi, CTO at Smartec, continues: "Downhole applications that demand sensors to deliver high accuracy data in extreme environments are ideal for our fiber optic sensing systems and at the same time a challenging one. Leveraging on Roxar's know-how in downhole instrumentation and Smartec's experience in using fiber optic sensors in harsh environments, we are well positioned to address this opportunity."

Sandy Esslemont, CEO of Roxar, gave the following statement: "Offering complete solutions to optimize reservoir production is Roxar's strength. Pooling our expertise with strong partners in particular fields ensures that we continue to innovate and that our products and solutions continue to meet the very specific needs of our customers.

"Smartec, with its strong research foundations and links to the Swiss Federal Institute of Technology, Lausanne (EPFL), and its recognized leadership in the area of harsh environment fiber optic sensors, is the ideal partner for us. Through such collaborative technology solutions, we look forward to offering our global customers integrated downhole electronic and fiber optic reservoir monitoring systems."

Roxar creates value for its customers through its Reservoir Interpretation, Reservoir Modeling, Reservoir Simulation, Well and Completion and Process Solutions and Consultancy Services.

Roxar's Well and Completion solutions are designed to ensure more accurate information is produced and shared between today's multi-disciplinary asset team members. Its portfolio includes intelligent monitoring systems that are leaders in the field of high temperature permanent subsurface instrumentation.

Roxar's Production & Process solutions have been designed to help reservoir and production engineers gain maximum benefit from real-time production data as well as a much-needed integrated solution. The portfolio consists of an extensive topside and subsea product range, including industry leading multiphase flow meters, wet gas flow meters, watercut meters, flare gas meters and sand/pig detectors that meet today's challenges of maximizing reservoir performance.

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About Roxar

Roxar is a leading international technology solutions provider to the upstream oil and gas industry. The company creates value for its customers through innovative products and services that help achieve maximum performance from oil and gas reservoirs.

With its head offices in Stavanger, Norway, Roxar employs close to 450 staff across a network of wholly owned offices in Europe, the Americas, Africa, CIS, Asia Pacific and the Middle East. Founded in May 1999, the company generated revenues of approximately US$100 million in 2004. Roxar's International customer base includes all of the multinationals, major independents and the majority of national oil companies.

About Smartec

Smartec is a leading developer, producer and distributor of measurement and structural health monitoring systems that set standards for innovation, quality, ease of use and durability. Smartec supports and trains its customers in the design, installation and use of monitoring systems, as well as in the management and analysis of the resulting data. Its domains of expertise cover civil and geotechnical engineering, structural engineering, oil and gas industry, and energy distribution.

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