With a multitude of oil companies restructuring and consolidating operations and assets, the processes required to effectively manage a portfolio of mature, diverse assets also need reformulation. It is our vision that an Integrated Asset Management approach will enhance the knowledge of the life cycle of producing assets, from exploration through sale or abandonment. Identifying trends to capture value and determining optimal acquisition and divestment timing are essential ingredients in managing mature assets. Also of significant importance are the impact of operational and economic risk, the understanding of interrelationships and interdependence of groups of properties, and the enhancement of the selection process for long term projects and strategic initiatives. Computer visualization of a variety of economic and operational performance parameters, together with exploration and development plans, offers an improved methodology for proactive asset management. By embarking on construction of an Integrated Asset Management System a course is being set for the strategic value enhancement for one's portfolio.

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