Oil & Gas
In both, Upstream and Downstream, energy company’s data volumes are increasing and the demand to use this data for better decision making is constantly growing. Quintus has more than 20 years of experience working with data analytics in Oil & Gas and has deep industry knowledge.
For a downstream oil company, we created a tool that evaluated their lubricant supply chain. This tool in Spotfire evaluated the bills of material used in more than 25 different plants across the world over 13 months. It analyzed volume and value data, that could not only be visualized and analyzed, but the tool also suggested cost savings based on supply data and best practices to create savings of more than 10 million USD per year.
For several upstream companies, we have worked with their drilling teams to optimize the deployment of drilling platforms to save time and costs. It would track drilling progress during the drilling itself, but also on how to best deploy what number of contractor teams. This was based on technical, geographical and economic data.
Using data from financial and from planning/budgeting systems, we helped to create powerful dashboards to analyze investment portfolios in Upstream. This included several price scenarios, but also weighing portfolios by geography, technology and risk. Decisions on which projects would get funding and which not are made via the tool, and using Monte Carlo simulations, an efficient frontier and investment portfolio could be constructed.
