Oilfield services company Schlumberger has bought reservoir geo-mechanics software and consulting company V.I.P.S for an undisclosed sum.

Oilfield services company Schlumberger has bought reservoir geo-mechanics software and consulting company V.I.P.S for an undisclosed sum.

The acquired business’ Bracknell office has become the Schlumberger Reservoir Geomechanics Center of Excellence and will be led by V.I.P.S. founder Nick Koutsabeloulis.

Schlumberger Data & Consulting Services’ president, Chris Hopkins, said: “This acquisition significantly strengthens our offering in 3D and 4D reservoir geo-mechanics, which is one of our key strategic initiatives.”

Schlumberger supplies technology, information and project management services to maximise reservoir performance for companies operating in the oil and gas industry.

The vendors were advised on their disposal by DMA Legal LLP. The firm negotiated the sale and purchase agreement and ancillary documents as well as structuring the deal for tax purposes.