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Obtaining Value From Oil & Gas Model Based Asset Management

By Andy Howell, Director Oil and Gas Solutions

Abstract

In this paper Aspen Technology will discuss some of the key success factors for a successful implementation of an optimiser, surveillance or planning system to an Oil & Gas Asset. Initially the Asset needs true buy in from members of all the differing disciplines, and a willingness to maintain their parts of the models used. To improve this buy in, the industry is finding that it helps to build the models using the favoured tool sets of the various discipline involved, which will naturally tend to be maintained. The use of standard, but disparate tool sets across engineering, financial and management disciplines requires the ability to integrate and communicate within the desired workflow. Recent advances in software engineering with the use of Microsoft.NET technology are making the dream of engineering modelling software and finance system collaboration a real possibility. The paper will review the requirements of integrated asset modelling systems and review some of the successes and failures of Operating Companies in achieving this dream. Aspen Technology will challenge the industry to help shape the revolution in integrated asset models

Topics: Key Words, Asset Management, Integrated Asset Models, Optimization
Year: 2008
OAI identifier: oai:CiteSeerX.psu:10.1.1.133.9979
Provided by: CiteSeerX
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