09-11-2015

VMG announces acquisition of PHH Engineering Software

Virtual Materials Group Ltd, a global technology company that develops process simulation software and solutions for the oil and gas industry, announced today that it has acquired the operating assets of PHH Engineering Software Ltd. PHH is a software company that specializes in providing simulation software services for the upstream oil and gas industry. PHH provides software services in three key areas – reservoir simulation, modelling pipeline gathering systems and production forecasting. This acquisition is a key component in VMG’s business strategy and will provide customers with the ability to model upstream and downstream processes under one platform.  

Tony Vysniauskas, CEO of VMG commented “we are very pleased that we were able to bring PHH into the VMG family. Consolidation of PHH’s upstream focused software with VMG's suite of products will allow us to accelerate and further develop our upstream services, which has been an integral part of our vision to provide an integrated upstream to downstream modelling solution. Adding PHH’s technology will allow us to significantly enhance our engineering software services for our customers and will enable more cost effective engineering analysis from the reservoir to the refinery gate.”
 
Peter Holst, PHH Founder and President commented “We see many synergies with becoming part of VMG and are looking forward to passing on the benefits of these synergies to our users.  VMG’s property package will help to improve forecasts when experimental fluid data are sparse or the fluids are complex. It will also enhance our ability to assess internal corrosion risk in pipeline licenses. PHH’s upstream modelling capabilities combined with VMG’s downstream simulation capabilities will permit asset wide optimization, from reservoir to plant product. Gasmod’s proven ability to simulate very large systems ensures an ability to handle big and small projects with long production horizons. We are very happy to be part of the VMG family.”