Computer Modelling Group and Petrobras Renew Multi-Year Simulation Software Agreement

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Postmedia has not reviewed the content. by GlobeNewswire Computer Modelling Group and Petrobras Renew Multi-Year Simulation Software AgreementAuthor of the article:Five-Year Software Licensing and Support Renewal Expands Long-Standing PartnershipTHIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountCALGARY, Alberta, Sept. 17, 2026 (GLOBE NEWSWIRE) — Computer Modelling Group Ltd. (“CMG” or the “Company”) (TSX: CMG) today announced that it has entered into a five-year software licensing and software support agreement with Petroleo Brasileiro S.A. (“Petrobras”), Brazil’s largest oil and gas producer. The agreement renews and expands a prior agreement covering CMG’s reservoir and production simulation software.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againFive-year agreement. CMG and Petrobras have entered into a five-year agreement for reservoir and production simulation software licensing and support, renewing and expanding the companies’ previous agreement.A 40-year partnership. CMG and Petrobras have worked together since the 1980s and marked 40 years of partnership in 2026, making Petrobras one of CMG’s longest-standing customers.Coverage across a technically complex portfolio. Petrobras engineers use CMG software across ultra-deep offshore and pre-salt fields, reservoirs producing oil with high associated CO2 content, and long-producing fields that require enhanced oil recovery methods.“Forty years of working with the same partner has taught us a great deal,” said Pramod Jain, CEO of CMG. “Petrobras operates in some of the world’s most complex and technically demanding reservoirs and their engineers bring us problems that don’t have easy answers. Working through them together has moved our technology roadmap forward and built capability on both sides. This five-year agreement reflects our ongoing shared commitment to solving the challenges that come with developing assets like these.”Under the renewed agreement, CMG’s simulation technology will continue to support Petrobras in evaluating recovery strategies and strengthening the subsurface analyses that inform long-term development and capital-allocation decisions.“For decades, CMG has been an important technology partner supporting Petrobras in the evaluation and development of some of the world’s most complex reservoirs,” said Marcos Machado, Senior Technical Advisor at Petrobras. “This renewed agreement reflects our confidence in the value of advanced simulation technologies and strong technical collaboration to support sound subsurface decision-making across our portfolio.”CMG (TSX:CMG) is a global software and consulting company that combines science and technology with deep industry expertise to solve complex subsurface and surface challenges for the new energy industry around the world. CMG is headquartered in Calgary, AB, with offices in Houston, Oxford, Dubai, Bogota, Rio de Janeiro, Bengaluru, Kuala Lumpur, Oslo, Stavanger, and Kaiserslautern. For more information, please visit www.cmgl.ca.This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.Forward-Looking StatementsThis press release contains “forward-looking statements”. Forward-looking statements can be identified by words such as: “aims”, “intend”, “can”, “goal”, “seek”, “believe”, “estimate”, “expect”, “strategy”, “future”, “likely”, “may”, “should”, “will”, and similar references to future periods.Forward-looking statements are neither historical facts nor assurances of future performance. They are based only on our current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements are detailed in the companies’ public filings.Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. Except as required by applicable securities laws, we undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.For investor inquiries, please contact: Kim MacEachern Director, Investor Relations cmg-investors@cmgl.ca For media inquiries, please contact: marketing@cmgl.caNotice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.