AVAILABILITY OF THE LATEST RELEASE OF PETREL PC-BASED EXPLORATION IS ANNOUNCED

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AVAILABILITY OF THE LATEST RELEASE OF PETREL PC-BASED EXPLORATION IS ANNOUNCED
21 January 2005 - Schlumberger

Schlumberger Information Solutions (SIS) announced today the availability of the latest release of its market-leading Petrel PC-based exploration and production (E&P) workflow technology. This new release enables geophysicists, geologists and reservoir engineers to work across domains using an integrated toolkit for subsurface interpretation and reservoir modeling and simulation.

'To efficiently find and exploit reservoirs, it is critical to integrate multiple technical disciplines from seismic to simulation in a scalable and collaborative environment,' said Olivier Le Peuch, president, SIS. 'This latest release extends the market-leading advantages of Petrel to offer a unique, intuitive, integrated solution for the entire E&P workflow, creating a step-change in process improvement and comprehensive risk assessment. Leveraging this unique collaborative technology, early adopters of this latest release have already realized significant productivity gains and increased competitive advantage.'

The new release incorporates all activities from seismic to simulation, including geophysical and geological interpretation and pre/post processing and case management for reservoir simulation. This combination gives asset teams the opportunity to benefit from improved workflow efficiencies and reduced uncertainty. Its integration with other Schlumberger and third-party products and services within the Living Model workflow provides measurable improvements in E&P operational processes.

A number of improved and new modules are now available across the entire Petrel offering. Notably, improvements in the Petrel Geophysics modules further establish the application as a core seismic interpretation tool. The new Reservoir Engineering module allows creation and running of ECLIPSE reservoir simulation models from within the integrated environment. New tools for seismic classification and for the estimation of 3D properties, property maps and missing logs and log sections are also available.

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About: Schlumberger
Schlumberger is the world's leading oilfield services company supplying technology, project management and information solutions that optimize performance for customers working in the oil and gas industry. The company employs more than 52,000 people of over 140 nationalities working in more than 80 countries, and comprises two business segments.

Schlumberger supplies a wide range of products and services from formation evaluation through directional drilling, well cementing and stimulation, well completions and productivity to consulting, software, information management and IT infrastructure services that support core industry operational processes. WesternGeco, jointly owned with Baker Hughes, is the world's largest seismic company and provides advanced acquisition and data processing services.

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