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OMV & PETROM Adopt Palantir Solutions Software for Consolidated View of All Global Assets


PalantirCASH & PalantirPLAN have been installed by OMV & Petrom.

London, United Kingdom, October 21, 2010 --(PR.com)-- Palantir Solutions is in the process of implementing a global economic and portfolio planning system for OMV & Petrom Exploration & Production. With group sales of EUR 17.92 billion in 2009 and 34,676 employees, OMV Aktiengesellschaft is one of the biggest listed industrial companies in Austria and the leading energy group in the European growth belt.

The new system will improve process efficiency by reducing manual manipulation while drawing data from multiple third party systems. This will give the business a comprehensive overview of global assets to aid decision making and planning at both local and global levels in a standardised manner. The newly installed system is based on two of Palantir’s core software products: PalantirCASH and PalantirPLAN.

Jason Ambrose, MD, Palantir Solutions commented: “The pace at which Palantir’s software and services are being adopted around the globe by pedigree companies such as OMV reflects the growing recognition that upstream companies can run best of breed economics and planning by partnering with Palantir.”

Two products from the Palantir Solutions software are employed:
- PalantirCash – Economic Evaluation Solution: an economic system on which accurate and reliable economic analysis can be performed in a secure and standardised manner.
- PalantirPlan – Portfolio Planning Solution: for management and optimisation of a portfolio. PalantirPLAN allows planners to get an in-depth insight in the portfolio by creating detailed business plans, setting targets and optimising based on any measures.

Palantir Solutions (www.palantirsolutions.com) provides economic and planning consultancy and software to the oil and gas community to provide improved transparency and rapid asset evaluation.

For more product information or to request a demonstration, contact Amy Williams-Allden at Palantir Solutions on +44 (0) 20 7901 3708 / awilliams@palantirsolutions.com.

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Palantir Solutions
George Frost
02076540747
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www.palantirsolutions.com

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