BP reports on progress of its deployment of P2ES’ Enterprise Upstream Volumes Management (EUVM) package at its deepwater Gulf of Mexico business unit. The phased implementation of EUVM began last year (OITJ Vol. 10 N° 2). Enterprise Upstream is a web-enabled application built with Oracle development tools and database technology. Applications and data can be centrally stored, eliminating the need for IT infrastructure in remote locations.
In the current implementation phase, BP is rolling-out the EUVM Allocation Process Modeling (APM) to manage complex allocations including sub sea commingled wells and tiebacks, circulated volumes, a disparity of fluids and continuously-changing operating conditions. Steve Fortune, Information Delivery Manager for BP, commented, ‘EUVM is ideal for meeting our deep water allocation requirements. We are very pleased with the implementation and have already begun to see a return on investment.’
BP has also improved its internal and external reporting capabilities, shortened the monthly close process and has been able to catch exceptions and issues earlier in the process. Mark Eikermann, Senior Vice President of Development for P2 Energy Solutions, added, ‘APM allows users to improve the accuracy and timeliness of production data and allocation results, allowing for proactive decision making cost reduction.’
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