Case Study: AS$ET™ Economics Tool Helps OMV Manage Its Comprehensive Portfolio of Worldwide E&P projects

AS$ET - a powerful tool for modelling E&P economics and portfolios - is helping the Austrian-based OMV Group to capitalize on its growing base of worldwide E&P projects.

Although OMV still operates in mature fields, including the giant Matzen oil field in Austria, much of its success has been based on significant international expansion that has seen developments and explorations in regions including Australia, Libya, Pakistan and the U.K.

To effectively manage these projects and exploit opportunities, OMV required a single E&P tool that would provide standardized, yet flexible modelling of different economic scenarios and portfolios.

AS$ET is a comprehensive desktop system that combines Ring Fencing, Monte Carlo modelling techniques and a built-in estimating tool, which allows evaluation of economic criteria and ultimately, more accurate portfolio analysis.

As Hans Roithinger, (Economist), OMV, explains, "One of the key benefits for us is increased standardization through use of AS$ET. As it contains ready-to-use country files, including fiscal systems, we can quickly achieve consistent results."

AS$ET includes fiscal regimes for more than 200 countries, which are already pre-modeled, but these fiscal models can also be changed by the user, without the need for programming knowledge, so AS$ET offers considerable flexibility.

"One of the key benefits for us is increased standardization through use of AS$ET. As it contains ready-to-use country files, including fiscal systems, we can quickly achieve consistent results."

— Hans Roithinger, Economist, OMV

The inclusion of an estimating tool within AS$ET means that users can now estimate details such as reserves, water depth and reservoir depth. AS$ET will convert this information into the number of wells needed and, importantly, the cost of these wells.

While OMV mainly uses AS$ET to evaluate various E&P investment opportunities it is also used to model OMV's existing portfolio of E&P projects. "While we have tested other economics tools we chose AS$ET due to its surpassing price-performance-ratio," said Roithinger.

Contact us now for more information on how AS$ET can help you.

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