GeoKnowledge is to embed fiscal models from Palantir Economic Solutions in its GeoX risk evaluation system. GeoX clients will be able to incorporate different fiscal regimes in their economic calculations through a library of 50 ready-to-use models.
The library offers world wide coverage with key regimes from all major exploration areas. Models currently exist for the North Sea, Australasia, North and South America, Africa (North, East and West), the Caspian region and the FSU. GeoKnowledge customers will also have ready access to Palantir experts for model tuning.
Palantir MD Jason Ambrose said, ‘Clients will be able to use our joint-solution to shorten the cycle times required to comprehensively and confidently analyze exploration prospects.’
GeoKnowledge’s modeling supports probabilistic evaluation of after-tax NPV and commercial risks. Rapid full cycle evaluation of prospects and discoveries gives analysts the ability to evaluate the commercial impact of multiple exploration opportunities.
GeoKnowledge MD Charles Stabell added, ‘This deal allows users to leverage off-the-shelf fiscal models for quick and accurate analyses rather than having to define and implement fiscals directly in GeoX.’
Palantir has deep expertise in international fiscal regimes, Production Sharing Contracts and Buy-Back schemes. Palantir’s consultants have extensive knowledge of these regimes from having executed and implemented projects in over 50 countries across all continents.
© Oil IT Journal - all rights reserved.