Merak (now part of Schlumberger-GeoQuest) is to supply its “Volts” volume tracking system to Norwegian Norsk Hydro. Volts tracks multiple reserve volumes using volumetric or material balance calculations. Volts can combine historical, current and forecast production information to optimize production reporting.
SEC Reporting
Volts is an Oracle-based year-end and reserves reporting system and was designed to automate governmental and SEC reserves reporting. Hydro’s project manager Knut Kvingan said “Volts provides the basic tracking system required for Norsk Hydro.
Prospect Tracking
We plan to use the application as a prospect tracking system for strategic and competitive analysis. It is very important to us that Volts can be customized for these business processes.”
Fifty Volts
Fifty Volts licenses will replace an internal system that has been in place since 1989. Kvingan added “Our legacy system was costly to maintain and did provide the required flexibility.” Volts is part of Merak’s Value Management Suite Release 2000.
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