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LANDMARK ANNOUNCES DECISIONSPACE™, THE INDUSTRY'S FIRST WEB-ENABLED, RISK-BASED DECISION SUPPORT SYSTEM FOR UPSTREAM OIL AND GAS COMPANIES
-Next-generation solution raises Technical-to-Business (T2B™) workflow integration to the power of "e-business" for rapid asset evaluation in the new virtual workspace-
DALLAS, Texas - Landmark Graphics Corporation, a wholly owned business unit of Halliburton Company (NYSE: HAL), today announced DecisionSpace™, the first iteration of a new Web-enabled, risk-based decision support solution. DecisionSpace represents a new paradigm for the industry by integrating technical and business tools in a virtual desktop. DecisionSpace is browser-based, ASP- (application service provider) ready and designed to fully support and enable the industry's rapid utilization of the emerging e-business environment.
"As E&P companies strive to deliver greater shareholder value in this age of the Internet, they are continuously challenged to be more productive and efficient with their capital and resources," said John Gibson, Landmark president and CEO. "This requires integration beyond just technical process, to include business and financial processes that are tightly coupled with information and knowledge resources in the new virtual workspace. Landmark introduced and has been leading the way in Technical-to-BusinessSM integration for several years, and our customers around the world are realizing the tremendous benefits that come from having asset teams working together. Increasingly, however, asset teams are no longer separated by different offices, floors, or even buildings - they are separated by oceans
and continents. In order to continue shrinking the decision cycle and reduce the cost of finding and producing hydrocarbons, the industry will increasingly need to share its knowledge resources through the Internet. The DecisionSpace solution is enabling that transition to take place today, raising T2B to the power of 'e'."
Beginning in 1997, Landmark - in conjunction with a team of oil company representatives - began a process to envision, design and deliver a new generation software infrastructure that would enable true business and financial process integration, not just data integration. These T2B solutions represented a new level of knowledge and resource integration, making it possible to better direct investments of time and resources by focusing on the technical and business factors that most impact economic measures associated with the development of an asset, including uncertainty and risk.
"One of the most significant aspects of this new solution is that it is designed from the ground up to work in a multi-tiered, distributed Web environment. Combined with integrated knowledge management tools, this solution supports highly scalable, collaborative processes that enable real-time decision making from all members of the team," said John Wilson, executive vice president, marketing. "DecisionSpace - along with MyLandmark™ and our partnership with Halliburton on e-commerce initiatives like PetroleumPlace and GrandBasin - is yet another important milestone in Landmark's e-business strategy."
Landmark's first release of the DecisionSpace offering is already installed and running in several key customer environments on a developmental basis. This release, based on the Windows NT® platform, focuses on delivering value to asset teams who deal with the delineation and development phase of the oilfield life cycle. Key features of the first release include the solution's ASP-ready, Web-based approach to the workspace using the DecisionDesktop™ common interface and the integration with Landmark's exclusive Uncertainty Collator. DecisionSpace will enter the market in a controlled release by the end of 2000.
Landmark is the leading supplier of integrated E&P technical and economic software and services to support decision making about finding, drilling and producing oil and gas. Knowledge-based E&P companies now are turning to Landmark for technical-to-business (T2B™) process integration for improving returns on their investments. Visit the Landmark Web site at www.lgc.com.
Founded in 1919, Halliburton Company is the world's leading diversified energy services, engineering, construction and maintenance company. In 1999, Halliburton's consolidated revenues were $14.9 billion and it conducted business with a workforce of approximately 100,000 in more than 120 countries. The company's Web site can be accessed at www.halliburton.com.
Contact
Rod Hotz
Landmark Graphics Corporation
Tel 281.368.5766
rhotz@lgc.com
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