The offering includes automatic evaluation of project economics and enhances collaboration to cut the time required for field development planning by up to 50%, according to the companies. A broad range of development scenarios can be analyzed to make faster global investment decisions.
The solution leverages Quorum’s Planning Space business planning and petroleum economics offering within SLB’s FDPlan agile field development planning solution.
The solution brings petroleum economics data into the earliest stage of asset evaluation and incorporates corporate standard fiscal regimes, prices, and currencies. Subsurface data, domain workflows, and corporate decision-making are integrated to increase collaboration between development geoscientists, engineers, and petroleum economics teams.
“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,” Trygve Randen, SLB’s senior vice president of digital products and solutions, said in a press release.
Tyson Greer, chief products officer at Quorum, said, “This integrated solution will enhance performance and profitability for energy companies globally with seamless connectivity between petrotechnical data and business planning. We’re committed to continuing to co-innovate with SLB across planning, economics, and reserves to better serve the global energy community.”