Oil and gas software providers Caesar Systems and Portfolio Decisions have formed an alliance.
The two companies will provide a data interface between their respective software products, Perspectives™ portfolio management software and PetroVR® Project simulation software, in an effort to streamline information exchange between the asset development plan and the portfolio optimization plan.
“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.”
“Understanding the impact of risk and uncertainty on the exploration and production business has never been more important,” said Victor Koosh, CEO of Caesar Systems. “We believe that risk integration 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.”
Perspectives, the flagship product of Portfolio Decisions, 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.
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.
Petroleum Ventures and Risk (PetroVR) is simulation software 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, according to Houston-based Caesar Systems.