Technoguide was the developer of the 3D reservoir modelling package, Petrel Workflow Tools, which has been the industry leader since its introduction three years ago.
It is understood the deal between the two companies will be finalised by mid-December
Commenting on the acquisition, SIS said Petrel had reached a stage where further development of its products would benefit from access to SIS's expertise in bordering technologies.
SIS said Petrel Workflow Tools would be an independent entity within the oilfield services giant and would be headed by Jan Grimes.
