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The Abu Dhabi Company for Onshore Oil Operations Chooses Enterprise Upstream From P2 Energy Solutions

Posted on: Wednesday, 7 September 2005, 00:00 CDT

HOUSTON, Sept. 6 /PRNewswire/ -- P2 Energy Solutions, a data, software and enterprise services provider for the energy industry, announced today that The Abu Dhabi Company for Onshore Oil Operations (ADCO) has entered into an agreement with P2 Energy Solutions for the support of the Enterprise Upstream Production Management, Terminal Management, and Planning and Engineering applications. Enterprise Upstream is a platform-independent Web-based oil and gas business management software solution developed to seamlessly integrate with ERP systems. The system includes modules covering the following functional areas: business intelligence and reporting, exploration and production agreements, operations accounting and volumes management.

Enterprise Upstream Production Management provides a global, Web-enabled production application to manage all production, inventory and volume measurements as well as field data collection, daily and monthly allocations and volumes forecast. Terminal Management is a robust tool that provides functionality to forecast tank stock inventories and party lifting positions within operational and agreed upon limits. It also records and tracks ongoing lifting data and actual tank stock levels and performs accounting for party ownership positions of actual trips and movement. Planning and Engineering is tightly integrated with the main production system and allows for comparison of OPEC/economic driven goals with actual and forecasted production.

Tarig Anani, President, International and Chief Legal Officer, commented, "This agreement for the support of Enterprise Upstream gives ADCO continued access to the industry's most robust allocation engine, multiple units of measure, support of production measurements and analysis that are required for their complex operations. ADCO will be able to keep their applications on the latest technology and reduce the ongoing cost of applications maintenance and upgrades. P2 Energy Solutions understands the region's business requirements and will continue to help our clients improve business processes."

"Enterprise Upstream allows us to more efficiently plan, manage and track production and exports. We will continue to work with P2 Energy Solutions and look at implementing other products to improve our workflows and operating costs," said Ali Bamakhrama, IT Manager for ADCO and Ali Bakheet Al Jenaibi, Operations Support Manager for ADCO.

P2 Energy Solutions will showcase Enterprise Upstream at GITEX September 25-29 in Dubai, United Emirates and will hold the Enterprise Upstream International Forum November 14-15 in Dubai. For more information, visit http://www.p2es.com/events.html.

About The Abu Dhabi Company for Onshore Oil Operations

The Abu Dhabi Company for Onshore Oil Operations (ADCO) operates onshore and in shallow coastal water of the Emirate of Abu Dhabi. The Company operates and produces oil mainly from five fields: Asab, Bab, Bu Hasa, Sahil and Shah. These fields are linked to the storage and shipping facilities located at Jabel Dhana, where tankers load crude oil for export to markets in various parts of the world. Oil production comes also from four other oil fields: Jarn Yaphoure, Al Dabbiya, Rumaitha and Shanayel. ADCO carries out the activities of exploration, production, development and export of crude oil and natural gas materials extracted from the concession area operated on behalf of its shareholders. More information can be found at http://www.adnoc.com/.

About P2 Energy Solutions Inc.

P2 Energy Solutions focuses on the development and support of data, software and enterprise services to meet the information and business process needs of the energy industry. P2 Energy Solutions is the oil and gas industry's most comprehensive source of asset management solutions including Entelligent, Enterprise Upstream, Excalibur, Qbyte, Tobin LandSuite(TM) and Tobin SuperBase(R). With solutions deployed at more than 500 companies worldwide, P2 Energy Solutions enables clients to achieve greater productivity while maintaining effective controls. The company has a 75-year history of serving the oil and gas industry and understands its workflow processes. P2 Energy Solutions has the breadth and depth of expertise to meet the expanding financial, operational and data management needs of energy companies from private independents to supermajors. More information can be found at http://www.p2es.com/ and http://www.tobin.com/.

Contact: Eric Flynn Director of Marketing (713) 481-2000 eflynn@p2es.com

P2 Energy Solutions

CONTACT: Eric Flynn, Director of Marketing of P2 Energy Solutions,+1-713-481-2000, eflynn@p2es.com

Web site: http://www.p2es.com/http://www.tobin.com/http://www.adnoc.com/http://www.p2es.com/events.html

Source: PRNewswire

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