Apache Corporation Selects Schlumberger Petrel Workflow Tools, Forms T

    Business Editors/Energy Editors/High-Tech Editors

    LONDON--(BUSINESS WIRE)--Feb. 22, 2005--Schlumberger announced today that Apache Corporation has selected Petrel(a) software as its primary reservoir modeling workflow tool. This will enable Apache asset teams to integrate multiple technical disciplines from seismic to simulation in an intuitive and collaborative environment.
    Schlumberger and Apache have also signed a Technology Alliance Agreement to work together on emerging technologies and the streamlining of workflows.
    Petrel Windows(R)-based workflow tools will interface directly with Apache's existing OpenWorks(R) corporate data stores via OpenSpirit(R), avoiding the need for any migration of data. Apache will replace its various legacy interpretation packages with Petrel tools, enabling complete seismic-to-simulation workflows within a single application.
    "In both new assets and older fields, leveraging technology is a key element to profitability and adding value for our shareholders," said Steve Farris, CEO, Apache. "New insights and efficiencies from technologies within the Petrel suite of workflow tools provide significant potential benefits to companies like ours."
    Under the terms of the Technology Alliance Agreement, Schlumberger will provide Apache with early access to additional Schlumberger technology, while Apache will give invaluable operator feedback to enable improvement in exploration and production (E&P) workflows.
    "The intrinsic value of technology can best be realized when it is applied to the real problems faced by oil and gas companies," said Andrew Gould, chairman and CEO, Schlumberger. "Having a fast-moving independent operator like Apache involved in workflow development will help ensure that these products are targeted firmly on customer needs."

    About the Organizations

    Apache Corporation (NYSE:APA)(Nasdaq:APA) is a large oil and gas independent with core operations in the United States, Canada, Australia, the United Kingdom North Sea and Egypt.

    Schlumberger (NYSE:SLB) 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 100 countries. 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. In 2004, Schlumberger operating revenue was $11.48 billion. For more information, visit slb.com.

    (a) Mark of Schlumberger

    Windows is a registered trademark of Microsoft Corporation
    OpenWorks is a registered trademark of Landmark Graphics Corporation
    OpenSpirit is a registered trademark of the OpenSpirit Corporation

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CONTACT: Schlumberger Oilfield Services, Houston Susan Ganz, 281-285-8245 or 713-513-2480 sganz1@slb.com

KEYWORD: TEXAS UNITED KINGDOM INTERNATIONAL EUROPE INDUSTRY KEYWORD: OIL/GAS ENERGY SOFTWARE MARKETING AGREEMENTS SOURCE: Schlumberger

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