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BP RENEWS GLOBAL CONTRACT FOR MAGIC EARTH'S GEOPROBE LICENSES
- New contract increases BP's leverage of industry-leading visual interpretation software -
HOUSTON, Texas - Magic Earth, a wholly owned subsidiary of Halliburton (NYSE: HAL), announced today that BP (NYSE:BP) has renewed and expanded its contract for Magic Earth's industry leading volume visualization and interpretation software, GeoProbe . BP was the first major oil company to adopt Magic Earth's technology when the company entered the market in year 2000. The new multi-year contract also allows for enhanced training to continue the successful uptake and full utilization of the technology.
The new contract expands BP's previous global contract with Magic Earth and reinforces GeoProbe's position as a key exploration tool in BP's upstream operations.
"BP is very pleased to renew its relationship with Magic Earth," said Steve Peacock, vice president of Upstream Digital Business for BP. "Magic Earth remains an industry leader in innovative interpretation and visualisation software, and GeoProbe is an important part of BP's toolkit across the spectrum of exploration, development and operations."
"BP's decision to renew its contract and install GeoProbe in more locations speaks to the value the technology is bringing to their business over time," said Michael Zeitlin, Magic Earth president and CEO. "Our relentless pace of innovation will continue to help BP leverage their asset teams to take full value from their technology investment as we bring them on-line in more locations. We look forward to BP applying our technology in new ways which will redefine how the industry explores for oil and gas."
The announcement of the BP & Magic Earth contract was made at the 2002 PETEX in London, where Magic Earth is exhibiting its volume visualization and interpretation technologies and expertise. Magic Earth's high performance software, GeoProbe, is designed for use across the full spectrum of interpretation environments - from the desktop to the immersive visualization center systems.
BP p.l.c. is the holding company of one of the world's largest petroleum and petrochemicals groups. Its main activities are exploration and production of crude oil and natural gas; refining, marketing, supply and transportation; and manufacturing and marketing of petrochemicals with a growing activity in gas and power and in solar power generation. BP has well-established operations in Europe, North and South America, Australasia and Africa. The company was recently listed as the No. 4 company on Fortune's Global 500 list of the world's largest companies. Visit www.bp.com for more information.
Magic Earth, Inc. specializes in high-performance volume visualization and interpretation solutions including GeoProbe software, consultation services for interpretation projects, training and large-screen immersive visualization centers. For additional information about Magic Earth and GeoProbe, visit the company's website at www.magicearth.com.
Halliburton, founded in 1919, is one of the world's largest providers of products and services to the petroleum and energy industries. The company serves its customers with a broad range of products and services through its Energy Services Group and Engineering and Construction Group business segments. The company's World Wide Web site can be accessed at www.halliburton.com.
Contact
Beverly Scippa
beverly.scippa@halliburton.com
Halliburton
(p) 713.676.7926
Pamela Griffin
pgriffin@magicearth.com
Magic Earth
(p) 832.200.4706
Employment Contact
jobs@halliburton.com
(p) 800.888.7668
ext. 8005
Supplier/Procurement Contact
kbr_supplier_relations@halliburton.com
Supplier Diversity Contact
Erin Petkovich
supplier_diversity@halliburton.com
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