News | June 27, 2005

Kuwait Oil Chooses Enterprise Upstream Software To Improve Business Processes

Houston, TX — P2 Energy Solutions, a data, software and enterprise services provider for the energy industry, announced today that Kuwait Oil Company (KOC) has licensed applications from the Enterprise Upstream software suite including Field Operations, Production Management, Joint Venture Accounting, Authorization for Expenditure, Partner Balancing, Revenue Settlement and Production Planning. Enterprise Upstream is a platform-independent, Web-based oil and gas business management software solution developed to seamlessly integrate with ERP systems. The system includes modules covering business intelligence and reporting, exploration and production agreements, operations accounting and volumes management.

Enterprise Upstream will help KOC management make better operational and investment decisions by providing improved visibility into asset economics and ease of use while meeting complex international business requirements. Because Enterprise Upstream offers highly-configurable applications that minimize the amount of customization necessary, KOC will benefit from lower implementation and support costs.

Tarig Anani, President, International and Chief Legal Officer of P2 Energy Solutions, commented, "The implementation of Enterprise Upstream will allow KOC to track production, revenues and costs in one integrated system. P2 Energy Solutions understands the region's business requirements and will continue to help our clients improve business processes."

SOURCE: P2 Energy Solutions Inc.