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Thursday April 24 8:15 AM EDT
SIMSCI and Japan National Oil sign agreement to integrate production
simulation programs for upstream market
BREA, Calif.--(BUSINESS WIRE)--April 24, 1997--Simulation Sciences Inc. (SIMSCI) (Nasdaq:SMCI) Thursday
announced that it has signed an agreement with the Japan National Oil Corp. (JNOC) to integrate SIMSCI's oil and gas
production simulation program, PIPEPHASE, with JNOC's horizontal-well simulation program, POPHOZN.
The agreement provides SIMSCI with the exclusive, worldwide marketing rights to the integrated product.
The integration of POPHOZN with PIPEPHASE will offer upstream companies new technology to shorten design times,
reduce capital- equipment costs and improve control of operations for horizontal wells.
SIMSCI's PIPEPHASE software program predicts the liquid hold-up, flow pattern, pressure and temperature distribution in
gathering networks. PIPEPHASE combines proven, steady-state, multiphase fluid flow simulation technology with SIMSCI's
extensive physical-property and thermophysical methods.
Dirk Pfeiffer, SIMSCI's vice president of sales, marketing, engineering services and field operations, said: ``We are pleased
that JNOC has selected SIMSCI as its business partner. Our agreement with JNOC is an example of our ongoing strategy to
leverage business partnerships to deliver best-in-class solutions to the upstream market.''
On concluding the partnership, Tetsuro Tochikawa, director, drilling and completion/production engineering laboratory, said:
``In the past, accurate calculation for horizontal wells was ignored, but the PIPEPHASE-POPHOZN integration is designed to
offer the upstream oil and gas industries unprecedented technology for the complete study of horizontal-well drilling systems.
``This program is intended to provide faster and more cost- effective design, as well as improved operational control, through
the accurate simulation of pressure drop based on data acquired through extensive research and experiment during the last
seven years.
``We selected SIMSCI as our business partner because we believe they offer the best simulation and optimization technology
in the industry. Combined with SIMSCI's PIPEPHASE program, I anticipate that the POPHOZN technology will have a
significant economic impact on the drilling of horizontal wells.''
JNOC is an independent government body in Japan responsible for promoting and expanding oil exploration and petroleum
stockpiling by Japanese companies in order to secure a stable supply of petroleum for the country, which depends on overseas
sources for virtually all of its supply.
To date, JNOC has supported more than 250 oil and gas exploration and production projects. In doing so, one of the key
functions of JNOC includes the research into advanced oil exploration and development technologies.
Simulation Sciences is a leading provider of commercial simulation software and related services to the petroleum and
industrial-chemicals process industries as well as the engineering and construction firms that support those industries.
SIMSCI's Windows-based graphical user interface and simulation software products are designed to increase profitability by
reducing capital-investment costs, improving yields and enhancing management decision-making. SIMSCI maintains offices in
the United States, Venezuela, Egypt, Germany, Singapore, the United Kingdom and Japan providing support and service to
more than 500 customers in 70 countries.
For more information about SIMSCI, visit the SIMSCI Web site at simsci.com .
NOTE TO EDITORS: PIPEPHASE is a trademark of Simulation Sciences Inc. POPHOZN is a trademark of Japan National
Oil Corp.
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the benefits
offered to upstream companies by the new technology and the anticipated economic impact on the drilling of horizontal wells.
Actual results may differ materially from those anticipated by the forward-looking statements as a result of a number of factors,
including those discussed in the company's most recent Form 10K filed with the Securities and Exchange Commission.
CONTACT: Simulation Sciences Inc., Brea
Maureen Kohaut, 714/579-0412
714/579-7927 (fax)
mkohaut@simsci.com (Internet) |
