Risk management in upstream forecasting is at once more important and more difficult in the volatile risk environment we face today
HOUSTON (PRWEB) October 30, 2007
"Risk management in upstream forecasting is at once more important and more difficult in the volatile risk environment we face today," said Jonathan Crane, Draugen Redevelopment Project Manager for Norske Shell, who filed the Caesar Systems nomination for the Platts Global Energy Awards program. "The Caesar Systems PetroVR Toolsuite offers a new, integrated approach to assessing both the magnitude and complexity of risks across the E & P value chain, from reservoir to market," said Crane.
Caesar Systems is headquartered in Houston, Texas and supports clients and strategic partners throughout the world. Caesar Systems introduced its anchor product, Petroleum Ventures & Risk (PetroVR) Toolsuite, in 1997. Over the past 10 years, PetroVR has gained acceptance among many leading exploration and production companies as an effective business simulation and decision support tool, featuring E & P risk management solutions.
"Caesar Systems is honored to be selected as a finalist from a pool of more than 200 nominations from 27 countries. We appreciate this nomination on our behalf," commented Victor Koosh, chief executive officer of Caesar Systems. Koosh will attend the Platts Global Energy Awards gala ceremony in New York City on November 29. Each year more than 500 senior energy executives from around the world gather to attend the black-tie awards ceremony.
The Risk Management Innovator of the Year is a new award for 2007 in the Platts Global Energy Awards program. This award will acknowledge the enormous growth - in outright terms and in terms of importance - of the risk management sector of the energy industry in the past decade.
Platts will give the Risk Management Innovator of the Year Award to a company, team or risk management department that has made the most significant innovative contribution to the science of risk management, or to the portfolio of tools available to today's risk professional. In its requests for nominations, Platts indicated that the winner will be the contributor who demonstrates ability to take the industry forward in a significant way. Caesar Systems and other candidates for this award were required to demonstrate how their innovation works, what makes it ground-breaking, what its commercial impact has been, and to what extent it has been adopted as a standard in the industry.
About Caesar Systems
Headquartered in Houston, Texas, Caesar Systems serves the worldwide petroleum industry with integrated business simulation software tools, training, support and on-site consulting. Caesar Systems contributes extensive value to E & P leaders in the form of improved decision-making preparation and support as well as team collaboration, enhanced workflow, knowledge transfer and E & P risk management.
For more information about Caesar Systems or PetroVR software applications, please contact Victor Koosh, chief executive officer, at firstname.lastname@example.org or 713-255-8331.