Rio de Janeiro and Oslo, February 5, 2009:

Petrobras Brazil has awarded SPT Group a contract to develop and install a real‐time production monitoring and management system (PMMS) based on the proprietary edpm® and OLGA® technologies.

The PMMS will be installed for the P‐35 Marlim field to optimize the production and address key flow assurance challenges. Also featured is an advanced dynamic gas lift solution that will monitor and optimize the production performance from all the subsea wells.

This marks the first project for Petrobras where a dynamic flow simulation model is coupled to the real‐time data acquisition system.

The project is part of Petrobras’ ongoing efforts in identifying easy to use tools to assist in improving production, minimizing risk and providing true monetary value to the end user.

Petrobras sees this project as a landmark regarding real time production optimization and control.

After successfully deploying 20 similar projects, with a specific focus on addressing flow assurance challenges, over past last 3 years ‐ this further affirms that the SPT Group’s edpm® solution powered by OLGA® (the dynamic multiphase flow simulator) is becoming the industry standard for real time production management systems.

The pdf format press release is found here.