- DUG Technology (DUG) is set to supply one of the world’s largest oil and gas companies with its interpretation software in a US$3.2 million (AU$4.58m) deal
- Brazilian-based Petrobas penned the deal with DUG to supply it with its “class-leading” interpretation software, DUG Insight, over a five year period
- The company says the software provides “all the necessary tools for a complete interpretation workflow,” including a “fully integrated 3D canvas”
- DUG shares are up 4.55 per cent, trading at 69 cents at 1:50 pm AEDT
DUG Technology (DUG), is set to supply one of the world’s largest oil and gas companies with its interpretation software in a US$3.2 million (AU$4.58m) deal.
Brazilian-based Petrobas penned the deal with DUG to supply its “class-leading” interpretation software, DUG Insight, over five years.
The company described DUG Insight as a “full-featured 2D/3D/pre-stack visualisation and interpretation package.”
“It includes all the necessary tools for a complete interpretation workflow, from reconnaissance to crossplotting – with a fully-integrated 3D canvas, and support for pre-stack data throughout.”
DUG’s Managing Director, Matt Lamont, said the deal was “significant” for the company.
“…not only does this provide us with an uplift in overall software sales from a long-term contract, but it also demonstrates the capability and appeal of our software to the world’s largest oil and gas companies.”
The deal was struck through GPB Serviços Sísmicos LTDA, which DUG is partnering with on the project.
DUG shares were up 4.55 per cent, trading at 69 cents at 1:50 pm AEDT.