GSPC, Schlumberger in strategic technical allianceJanuary 14th, 2009 - 1:16 am ICT by IANS
Ahmedabad, Jan 13 (IANS) Gujarat State Petroleum Corporation (GSPC) and global oilfield and information service provider Schlumberger Tuesday announced a long-term strategic alliance.A memorandum of understanding (MoU) to this effect was signed here as part of the Vibrant Gujarat Global Investors’ Summit.
The MoU defines a framework by which GSPC can access Schlumberger products and services under business models that will help deliver value creation and meet the aggressive growth targets of the Gujarat firm through accurate reserves estimation, effective field development, efficient well construction and optimised reservoir management.
The activities under the MoU range from data acquisition and management, data processing and interpretation, consultancy, integrated project management, joint research and development, oilfield operations and information technology.
The MoU is expected to allow GSPC to minimise exploration risk and total cost while simultaneously maximizing rate and recovery through access to unique oilfield technologies and practices.