Teras is an integrated capital allocation system designed to capture and exploit information generated by multidisciplinary asset teams. The acronyms say it all - Teras is The Economic and Risk Analysis System, while the main software tool Pecos is the Petroleum Economic Simulation Evaluation. Teras provides the economic modeling tools, including Monte Carlo simulation, but extends the usual analysis. A typical Teras computation might begin with a portfolio of projects, a fixed capex and a required NPV.
optimizer
An optimizer identifies various combinations of projects that meet the requirements and then analyzes the portfolio to minimize risk. Further simulation leads to a selection of project combinations which maximize NPV until an 'efficiency frontier' is reached. Landmark has already been cooperating with EAS in the context of Mobil’s Technical Computing Solution initiative.
DSS
Decision support and capital allocation are at the core of Bob Peebler’s ‘nirvana’ level- 4 of integration. Peebler told PDM that he believed that in a few years time, the EAS deal would be looked back upon as one of Landmark’s most significant acquisitions ever.
Click here to comment on this article
If your browser does not work with the MailTo button, send mail to
pdm@oilit.com with PDM_V_3.3_9907_2 as the subject. © Oil IT Journal - all rights reserved.