June 29, 2023
SLB and Quorum Software Introduce Digital Solution to Optimize and Accelerate Field Development Planning
Integrated solution to cut time required for field development planning by up to 50%
HOUSTON and LONDON, June 29, 2023—SLB (NYSE: SLB) and Quorum Software have introduced a joint digital planning solution, which leverages Quorum’s Planning Space business planning and petroleum economics offering within the FDPlan™ agile field development planning solution from SLB.
The integrated solution enables automatic evaluation of project economics and enhances collaboration to cut the time required for field development planning by up to 50%. This allows customers to analyze a broader range of development scenarios and make better global investment decisions, faster.
“Quorum and SLB have released a powerful evaluation and planning solution for improving asset selection and development decisions,” comments Trygve Randen, senior vice president of digital products and solutions, SLB. “With subsurface and petroleum economics connected, customers can quickly assess their global asset portfolio to prioritize their development projects, lowering costs, maximizing returns, and significantly reducing time to value through streamlined field development planning processes.”
The solution brings petroleum economics data into the earliest stage of asset evaluation and incorporates corporate standard fiscal regimes, prices, and currencies. Subsurface data, domain workflows, and corporate decision-making are united, increasing collaboration between development geoscientists, engineers, and petroleum economics teams for faster and better-informed decisions.
“Delivering this integrated solution with SLB and Planning Space, our industry-leading planning and economics solution, is truly an exciting first for the market,” said Tyson Greer, chief products officer at Quorum. “This integrated solution will enhance performance and profitability for energy companies globally with seamless connectivity between petrotechnical data and business planning. We’re committed to continuing to co-innovate with SLB across planning, economics and reserves to better serve the global energy community.”
Quorum and SLB’s agreement to integrate their solutions within the cloud-based Delfi™ digital platform was initially announced in June 2022, and it is now commercially available.
SLB (NYSE: SLB) is a global technology company that drives energy innovation for a balanced planet. With a global footprint in more than 100 countries and employees representing almost twice as many nationalities, we work each day on innovating oil and gas, delivering digital at scale, decarbonizing industries, and developing and scaling new energy systems that accelerate the energy transition. Find out more at slb.com.
About Quorum Software
Quorum Software is a leading provider of energy software worldwide, serving more than 1,800 customers across the entire energy value chain in 55 countries. Quorum’s solutions power growth and profitability for energy businesses by connecting people, workflows, and systems with decision-ready data. Twenty years ago, we delivered the industry’s first software for gas plant accountants, and today our solutions streamline business operations with industry forward data standards and integrations. The global energy industry trusts Quorum’s experts and applications to successfully navigate the energy transition while delivering value today and into the future. For more information, visit quorumsoftware.com.