HOUSTON--(BUSINESS WIRE)--Portfolio Decisions and Caesar Systems announced formation of a strategic alliance to help oil and gas companies improve and accelerate decision making, with a risk-integrated workflow from asset development to portfolio management to executive strategy.
Through this alliance, the two companies will provide a data interface between their respective software products, PetroVR(R) Project simulation software and Perspectives(TM) portfolio management software, for a smooth information exchange between the asset development plan and the portfolio optimization plan.
- Non-integrated, disjointed risk assessments between the asset level and portfolio level are cause for increasing concern for oil and gas companies, as exploration and production projects grow more uncertain and challenging.
- This alliance is based on a shared vision that asset-through-portfolio risk integration will provide oil companies new insights about the uncertainties they face and how those uncertainties impair their ability to succeed.
“As I talk with companies worldwide, I continually hear about the need to improve information flow between planning systems,” said John Howell, president of Portfolio Decisions. “This alliance demonstrates our commitment to provide that smooth flow of information from the asset level to the portfolio level and back. The existing data flow between PetroVR and Perspectives was already straightforward, and we pledge to make it seamless through our alliance.”
“Understanding the impact of risk and uncertainty on the exploration and production (E&P) business has never been more important,” said Victor Koosh, chief executive officer of Caesar Systems. “We believe that the ability to fully integrate risk from assets all the way through to portfolio optimization, in a transparent and consistent way, will provide the insight our clients need for improved, accelerated decision making.”
About Portfolio Decisions
Portfolio Decisions facilitates portfolio management and strategic planning through their advanced analytics platform, Perspectives, as well as executive-level consulting and guidance. It helps companies improve their decision-making capacity by balancing near- and long-term goals and offering uncertainty-based and time-coupled planning and analysis. Headquartered in Houston, Texas, Portfolio Decisions works with businesses worldwide to provide analysis, communication and data flow management expertise, as well as training and experience helping executives draw actionable insights from advanced analytics.
The company’s flagship product, PERSPECTIVES, is an advanced analytics platform for modeling the complex interaction among existing assets and future investment opportunities in the light of a number of potentially conflicting targets and goals. Perspectives can import asset data and then be used to model real-world dependencies among the assets and the various stages of development. Customers use the power of optimization to quickly sort through thousands or millions of options and combinations. The results identify an optimal mix and timing of new projects, expansion into new plays, acquisitions, joint ventures, etc. Customers can optimize performance from a financial and/or operational perspective, considering multiple goals and constraints such as production, reserves and cash flow, and then easily derive budgets from that plan.
About Caesar Systems
Headquartered in Houston, Caesar Systems empowers exploration and production (E&P) companies to accelerate confidently to production through its PetroVR simulation software, backed by coaching support.
Caesar Systems is led by an experienced team of oil and gas and software professionals at offices located in Houston, Texas; Buenos Aires, Argentina; Paris, France; Copenhagen, Denmark; and London, United Kingdom.
Petroleum Ventures and Risk (PetroVR) is simulation software for decision assurance, designed by and for E&P professionals to reveal uncertainty, pinpoint value and accelerate confidently to production.
Field proven for more than 15 years, PetroVR is the E&P industry standard for integrated asset development planning, and the only software platform designed to simulate an entire E&P network from sub-surface to point of sale that includes probabilistic risk and uncertainty modeling with full fiscal economics.