Schlumberger launches new technology for oil and gas business planning

Schlumberger, a provider of technology, integrated project management and information solutions, has announced the release of its Merak Enterprise Planning software, a next-generation technology that enables oil and gas business planning, including event-driven or evergreen plans.

In a preliminary field test with an integrated, independent oil and gas company, Merak Enterprise Planning (MEP) demonstrated 50% reduction in project processing time, increased confidence in results and 75% reduction in analysis time.

MEP uses an 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.

MEP leverages Microsoft technologies to provide a collaborative platform for oil and gas business applications to generate valuable information in context using a robust calculation engine. Its data aggregation and mining capabilities deliver business intelligence and performance analytics in the context of an oil and gas enterprise.

Olivier Peyret, vice president of software products at Schlumberger Information Solutions, said: "With MEP, oil and gas companies can get fast answers to complex business questions for improved decision making. This software helps clients to proactively respond to changing market and operational conditions to achieve growth objectives."

http://www.datamonitor.com
Republication or redistribution, including by framing or similar means,
is expressly prohibited without prior written consent. Datamonitor shall 
not be liable for errors or delays in the content, or for any actions 
taken in reliance thereon

Related terms: business, business intelligence, knowledge management, market, mining, oil and gas, president, products, software, technology