Aclaro, Charlotte team on capital allocation optimization

A newly-developed optimization engine is now available in PetroLook Forecast.

Aclaro Softworks has teamed with Charlotte Software Systems (CSS) to provide optimization solutions for capital planning and project scheduling in the oil and gas industry. CSS’ optimization engine is to be embedded in Aclaro’s PetroLook Forecast application, creating a decision support platform for companies to manage their asset portfolio. The new technology is expected to benefit companies which revise capital programs and operating budgets frequently—particularly in the face of reduced staffing levels.

Charlotte Systems CEO Kevin Kostiuk told Oil IT Journal, ‘We are working with Aclaro in two areas: capital portfolio optimization and drilling program optimization. CSS has expertise in applying advanced optimization technologies to business problems, especially in the energy domain. Our modeling framework implements a new approach that makes state of the art optimization technologies easy to use. The platform allows a much broader population of users who are not necessarily experts in optimization (e.g. engineers, software developers, business analysts) to solve optimization problems that only specialists were able to tackle before. We released the OEM platform in August 2009 and will have a research/non-profit version in 2010.’ More from

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