CALGARY, 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.
Key Points:
- Five-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."
About CMG
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.
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