SLB and Quorum Software introduced a joint digital planning solution to automatically evaluate project economics and halve the time needed for field development planning, according to a June 29 press release. (Source: Shutterstock.com)
SLB and Quorum Software introduced a joint digital planning solution to automatically evaluate project economics and halve the time needed for field development planning, according to a June 29 press release.
SLB and Quorum said the new field development planning solution, which leverages Quorum’s Planning Space business planning and petroleum economics offering within the FDPlan agile field development planning solution from SLB, is now commercially available. In June 2022, the companies announced an agreement to integrate their solutions within the cloud-based Delfi digital platform.
“With subsurface and petroleum economics connected, customers can quickly assess their global asset portfolio to prioritize their development projects, lowering costs, maximizing returns and significantly reducing time to value through streamlined field development planning processes,” said SLB’s Trygve Randen, senior vice president of digital products and solutions.
The solution brings petroleum economics data into the earliest stage of asset evaluation and incorporates corporate standard fiscal regimes, prices and currencies, the companies said. The solution unites subsurface data, domain workflows and corporate decision-making to increase collaboration between development geoscientists, engineers and petroleum economics teams for faster and better-informed decisions.
Tyson Greer, chief products officer at Quorum, said the integrated solution will enhance performance and profitability for energy companies “with seamless connectivity between petrotechnical data and business planning.”
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