IHS Energy has upgraded its Que$tor Offshore (QO) economics package to enables cost, facilities and reservoir engineers to evaluate complex schedules for capital and operating expenses. QO V8.0 also heralds a port to .NET.
QO user and evangelist, Steve Johnson of Doris Inc., said, ‘When we chose QO for concept-level capex studies on deepwater field developments, we were concerned about the time required to run the large number of simulations required. In fact, we managed to evaluate 25 cases in a few days using a beta release of QO.’
QO’s cost calculation engine now embeds IHS Energy’s field and basin databases, as a starting point for project evaluation. The regional cost databases are updated every six months with real-world project data from oil companies, fabricators, vendors and service companies.
One additional capability receiving high marks from beta customers is the entry of data in any units, not just metric or Imperial, and the ability to change the units of any data item at any point.
Other capabilities include, enhanced field development plan graphics, access to the technical algorithm databases, allowing users to tailor these with their own technical data and sensitivity analyses. IHS Energy claims over 500 QO users in 40 countries. The development team is now working on an onshore version for delivery later this year.
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