Schlumberger has released its Merak* Enterprise Planning (MEP) software, a next-generation technology that enables dynamic oil and gas business planning, including event-driven or evergreen plans.
"With MEP, oil and gas companies can get fast answers to complex business questions for improved decision making," said Olivier Peyret, vice president, software products, Schlumberger Information Solutions. "This software helps clients to proactively respond to changing market and operational conditions to achieve growth objectives."
In a preliminary field test with a large integrated, independent oil and gas company, MEP demonstrated 50% reduction in project processing time, increased confidence in results and 75% reduction in analysis time.
Today's oil and gas business planning process is often lengthy, cumbersome and sometimes ineffective in reflecting recent market and operational realities. Merak Enterprise Planning uses a unique oil and gas data management cube to align strategy with plans and budgets -- simultaneously integrating reserves, production and financial data -- to reveal critical business insights for timely decisions based on continually updated business plans.
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