SOLV Provides Accurate Risk Estimates for Oil and Gas Customers with Monte Carlo-based Simulation—Saves Customer US$550 Million
By Melissa Centurio Lopes on Aug 16, 2013
SOLV is an engineering consultancy and software developer
based in the United Kingdom. It provides
- Provide accurate estimates of uncertainty around the measurement of oil and gas output from pipelines
to enable global oil and gas organizations to manage exposure to risk.
- Assess accuracy of oil and gas allocation to multiple partner organizations, working in oil fields with
shared interest throughout the world.
- Deployed Oracle Crystal Ball to perform Monte Carlo simulations to more accurately measure
the uncertainty around oil and gas flow measurement and calculate the probability that
measurements and allocations of oil to individual partners are correct.
- Saved one oil and gas client US$550 million by providing better risk estimates with the help of
Oracle Crystal Ball.
"Oracle Crystal Ball enables us to use Monte Carlo simulation to estimate allocation uncertainties
in oil and gas flows and advise oil and gas clients on minimizing risk exposure."
– Martin Basil, Senior Flow Measurement Consultant, SOLV Limited
Read complete customer snapshot here.