As a result, iQx™
and risk and cost analytics tool, P1™
, will play a key role in screening, analytics, knowledge management, planning and tracking of performance in Point Resources well operations, allowing the oil company to maximise data storage, collaboration as well as supporting time and cost planning.
The philosophy behind the iQx™ platform is to structure data and knowledge across the organization to help E&P companies plan correctly and understand risk and opportunities. The system allows informed decisions to be made on all aspects of well operations and generate instant reports for management approval. Working with standardized processes will save time but also increase quality and improve decision processes.
AGR’s P1™ time and cost estimator uses Monte Carlo simulation method and can be used for all types of drilling and well operations, including completion, well intervention, slot recovery and abandonment.
Petter Mathisen, VP for AGR Software, comments the recent award, “We are honoured that Point Resources has chosen our software services and we look forward to delivering value and knowledge throughout our solutions.”
Interested in our Software portfolio? Please visit our website
for more details.