BAKER HUGHES ACQUIRES RESERVOIR MODELING SOFTWARE DEVELOPER
JOA JewelSuite software provides a seismic-to-simulation reservoir
integration platform for all Baker Hughes technology offerings
HOUSTON, TX – October 7, 2010 – Baker Hughes (NYSE: BHI), announced today
that its subsidiary has acquired the remaining interest in oil & gas
reservoir modeling software developer JOA Oil & Gas BV, which owns and
develops software for technical, scientific, and exploration and
production applications. Baker Hughes Nederland Holdings acquired 40% of
JOA Oil & Gas in 2009.
JOA Oil & Gas is the developer of JewelSuite™ software, an integrated
reservoir modeling tool that uses patented 3-D gridding technology to
build accurate reservoir models for fields with complex geology. The
JewelSuite software platform also provides connectivity between the
generated models and reservoir simulators – a capability designed to
further improve overall simulation accuracy.
“With the acquisition of JOA, Baker Hughes’ Reservoir Development Services
(RDS) group can provide field development and geomodeling solutions for
the most complex development options and reservoirs,” notes John Harris,
president of Baker Hughes’ RDS group. “JewelSuite software has the
potential to become a leading reservoir integration platform for
technologies ranging from geosteering to modeling the performance of
inflow control devices.”
Gerard de Jager, founder of JOA Oil & Gas, says the global presence of
Baker Hughes may accelerate the growth of the JewelSuite software package.
“Baker Hughes recognizes the integration capabilities of the JewelSuite
seismic-to-simulation workflow. We look forward to joining the Baker
Hughes RDS group and to enhancing the application of the JewelSuite
software development kit by larger independents, international oil
companies and national oil companies.”
Source: www.bakerhughes.com
