We had the experience and industry expertise to formulate a plan, but finding the right technology partner to drive it was as critical as the plan itself
(PRWEB) February 28, 2008
Calgary based companies Petrotranz Inc. and Pandell Technology Corporation, made public today that a corporate alliance forged between them nine months ago has resulted in the first web-based, automated system for tracking crude oil production forecast volumes from wellhead to market.
The alliance was initiated in early 2007 when Petrotranz began investigating possible partners to develop its Crude Oil Transportation System (COTS). In July 2007, an agreement was formed with Pandell and the companies began work on a solution.
"We had the experience and industry expertise to formulate a plan, but finding the right technology partner to drive it was as critical as the plan itself," says Brent Stankowski, CEO of Petrotranz. "We chose Pandell because of the company's Software-as-a-Service platform and proven track record in delivering and supporting secure, large-scale solutions. That decision has really paid off with Pandell developing COTS in record time. The solution is fast, easy-to-deploy, and easy-to-use; all essential components for the long-term success of COTS."
COTS -- now available to pipeline companies, shippers and producers -- promises to revolutionize the crude oil pipeline industry's forecasting and tracking processes. It was developed with one unifying purpose: to deliver a better alternative to the inefficient, paper-based processes that have plagued the crude oil movements industry for years.
"Petrotranz's vision of a web-based, secure solution for tracking crude oil was clearly a logical step forward for the industry," says Greg Chudiak, President and CEO of Pandell. "We are privileged to be part of something that will have such a significant impact on the energy industry."
Project input and direction was provided by a seasoned group of energy executives, and an ongoing pilot group which includes a major pipeline operator and a group of shippers and producers. "This historic and collaborative initiative solves a major pain point for the crude oil pipeline industry," says Ron Gagnon, Vice President and Industry Advisory Board Chairman for Petrotranz. "COTS will significantly reduce the amount of paper-shuffling necessary to transport crude oil, while greatly enhancing communication between the working parties."
An introductory information session will be held in downtown Calgary for interested parties.
About Petrotranz Inc.:
Petrotranz Inc.'s Crude Oil Transportation System (COTS) is the first secure, easy-to-use, web-based communication and collaboration platform that streamlines the manual processes and documentation required in the transportation of crude oil from wellhead to market. Petrotranz COTS provides Producers, Facility Operators (pipelines, truck terminals, cleaning plants) and Marketers the ability to forecast shipping volumes, capture production information, and reconcile delivered quantities to complete and submit delivery forecasts online each month. Visit http://www.petrotranz.com.
About Pandell Technology Corporation:
Established in 1997, Pandell is a software company with two thriving business divisions. The Software by Design division builds and supports custom applications for enterprise organizations. The Oil and Gas division sells and supports the NexusSuite™ of back-office software products specifically engineered for junior and mid-sized energy companies. With its market-proven solutions and unique Pandell Liquid Intelligence™ technology ("PLI"), the company delivers the most modern, affordable software solutions in the industry. Visit http://www.pandell.com.