| Landmark
announces DecisionSpace DMS
Posted: 14 May 2003
Decision-management software to manage risk and improve
cycle-time
HOUSTON, Texas — Landmark Graphics Corporation,
a wholly owned business unit of Halliburton, announced today the
release of DecisionSpace DMS, advanced software designed to support
asset teams integrating risk factors in the context of business
objectives.
Using the DMS approach should significantly reduce the cycle-time
for field development decision-making process around large prospects,
leading to improved asset performance with a better understanding
of the risks involved.
To optimise the field development decision process, DMS simulates
and manages numerous production and financial outcomes from multiple
reservoir models, drill plans, facilities plans and economic scenarios.
"DecisionSpace DMS will provide our customers with decision
management and scenario analysis tools integrated with multi-discipline
workflows across the E&P value chain," said Andy Lane,
president and CEO, Landmark Graphics. "Cross-discipline asset
teams will use DMS to optimise field development planning for large
and capital intensive projects."
DMS allows cross-discipline asset teams to quickly analyse geotechnical
uncertainties and risks, while evaluating the economic value of
numerous field development alternatives.
Reservoir engineers can perform flow simulation or material balance
modeling to determine how alternative decisions can impact the overall
production of an asset. DMS is an open, extensible solution that
comprehends the wide range of situations that are encountered in
an E&P asset evaluation.
"BP is collaborating with Landmark in the design and the testing
of DecisionSpace because we need a tool to speed and improve our
reservoir management decision making by our understanding of the
risks and uncertainties of developments in more and more challenging
areas," said Mike Smith, Head of Reservoir Management in BP.
Landmark is the leading supplier of software and services for the
upstream oil and gas industry. The company's software solutions
span exploration, production, drilling, business decision analysis
and data management.
Landmark offers a broad range of consulting services that enable
customers to optimise their technical, business, and decision processes.
Visit the Landmark Web site at www.lgc.com
for more information.
Halliburton, founded in 1919, is one of the world's largest providers
of products and services to the petroleum and energy industries.
The company serves its customers with a broad range of products
and services through its Energy Services Group and Engineering and
Construction Group business segments.
For more information see www.halliburton.com.
Posted by Richard Price,
Editor Pipeline Magazine
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