Schlumberger Information Solutions (SIS) has acquired the rights to Quorum Business Solutions’ Volume Management (QVM) package. QVM provides field operations data management and is used on several heavy oil projects in North America and one brown field installation in Asia.
SIS president, Olivier Le Peuch said, ‘QVM is compatible with our next-generation technology framework and this partnership will accelerate our strategic initiative to deliver a complete production offering that integrates with back office operations.’
Quorum CEO Paul Weidman added, ‘Quorum is focusing its efforts on delivering back-office solutions. We will retain our production and revenue accounting tools.’ Under the terms of the agreement, SIS acquires the rights to QVM as well as key development personnel. SIS will develop its production volumes management solution around QVM and will partner with Quorum to integrate with its accounting workflows.
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