Palantir Deploys Global Planning System for Talisman

March 17, 2010 at 9:56 am Leave a comment

Palantir Solutions was tasked with building a standardized planning system with advanced reporting and portfolio planning capability for Talisman Energy. The system would ultimately be used to run the business plan globally at the corporate level to forecast financial statements. Palantir had previously implemented software for Talisman Energy in Aberdeen and Norway.

            Jason Ambrose, Managing Director of Palantir Solutions, commented: “We are pleased to be working with a large and dynamic international company like Talisman. Consolidated data links from Talisman’s global operating regions funnel intelligence into the new economic and financial planning system. Palantir provides a number of benefits, which include standardized reporting allowing detailed and rapid comparative performance of assets to capture changes in the environment across Talisman’s business operations.

            “There are seven databases comprising of more than twenty reporting regions in eight currencies,” Ambrose continued. “The results are aggregated to provide a complete, overall picture of Talisman’s business. Palantir had consultants working in Calgary, the UK, Norway, Indonesia and Malaysia to implement the software and assist with business planning process.”

            Three products from the Palantir Solutions Software were deployed:

  • PalantirCash – Economic Evaluation Solution: an economic system on which accurate and reliable economic analysis can be performed in a secure and standardized manner.
  • PalantirPlan – Portfolio Planning Solution: a portfolio analysis solution that allows planners to get an in-depth insight in the portfolio by creating detailed business plans, setting targets and extensive shuffling of projects and attributes.
  • PalantirFinancials – Consolidated Financial Statement Solution: an integrated product that builds dynamic financial statements that can be tuned to the users’ own company standards.

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

www.palantirsolutions.com

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Entry filed under: Asset & Portfolio Management, Financial and Back Office Solutions, Oil & Gas IT Management. Tags: , , , , .

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