Exclusive Arrangement Dramatically Expands Company's Global Footprint
Lagos, Nigeria (13 March, 2006) - Well log data provider A2D Technologies has completed an agreement with the Federal Republic of Nigeria, making it the sole reseller of data for the country's important on and offshore well log holdings. With this agreement, one of the world's leading hydrocarbon producers' log data assets will now be available via instant access over the Internet.
Under terms of the agreement with the Department of Petroleum Resources (DPR), A2D will provide services to collect, standardize and distribute high-quality log data from Nigeria. Data will be made available to the industry via A2D's online data library, LOG-LINE Plus!®. Together with its local partner TATNET Nigeria Ltd., A2D will work closely with the DPR to provide a competent network to ensure greater success in exploration activities across Nigeria.
"A2D's well log database is rapidly expanding beyond its initial U.S. collection to become the global well log data marketplace," commented Rod Starr, Executive Vice President of Global Business Development for A2D Technologies. "As is the case in many hydrocarbon rich regions of the world, Nigerian well log data is in high demand, yet largely inaccessible from the desktop. Our relationship with the Department of Petroleum Resources will quickly change that model."
"Greater access to well log data is very much in the interest of Nigeria and a strategic direction for the Department of Petroleum Resources as it improves the basis for successful exploration campaigns," stated A. O. Chukwueke, Director of Petroleum Resources for Nigeria. "We chose to enter this agreement with A2D based on their proven e-commerce marketplace and track record of providing the highest quality data products to the industry."
This agreement marks another significant milestone in A2D's global expansion of its well log data marketplace. With the addition of Nigeria, the company now offers online access to well log data across much of Africa; including the countries of Benin, Cameroon, Congo, Equatorial Guinea, Gabon, Madagascar, Sierra Leone and Togo.