Australian technology company DUG Technology (ASX:DUG) has signed a US$3.2 million deal over 5 years to provide its class-leading interpretation software to Brazilian oil and gas company Petrobras.
The company says this deal has been sold through DUG’s local agent GPB Serviços Sísmicos, who is a partner on the project.
DUG Insight is a ‘full-featured’ 2D, 3D, and pre-stack visualisation and interpretation package. The company says the product includes all the ‘neccessary’ tools for a complete interpretation workflow, from reconnaissance to crossplotting with a fully-integrated 3D canvas, as well as support for pre-stacked data throughout.
“[the deal] demonstrates the capability and appeal of our software to the world’s largest oil and gas companies”
Commenting on the deal, DUG Technology Managing Director Matt Lamont said: “This is a significant deal for DUG, 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.”
DUG Technology is an ASX-listed technology company based in Australia which specialises in analytical software development and reliable, green, high-performance computing (HPC).
The company is built on a ‘strong’ foundation of applied science and a history of converting research into practical, real-world solutions. DUG says it delivers innovative software products and ‘cost-effective’, cloud-based HPC as a service backed by bespoke support for technology onboarding.