OMV and Aucerna are deploying the Plan2Value application for OMV’s Exploration & Production business to integrate its planning, portfolio and reserves management processes
Plan2Value will improve collaboration across functions, increase data quality as well as reduce cycle time for data processing and decision making
OMV’s Exploration & Production business processes and system landscape was partly non-integrated causing many inefficiencies in preparing, processing and analyzing data for decision-making.
On the business process side, data structures were not fully aligned, therefore manual and time consuming manipulation of data is required to compare analysis and results, e.g. between the business planning and reserves management processes.
On the system landscape side, data have been exchanged between main systems via ‘soft interfaces’, i.e. based on excel files and customized scripts. This setup not only caused efforts to maintain the interfaces but also caused issues to compare data across applications due to different versions and formats.
With the ambition to get an industry leader in digitalization, a solution was sought to improve the setup.
In a partnership with Aucerna, OMV deployed an integrated planning, portfolio and reserves management applications for OMV’s Exploration & Production business. The solution is built on Aucerna’s standard product suite and was configured to meet the specific requirements for OMV’s stakeholders.
The application is based on five modules that particularly facilitate data management, economic evaluation, financial forecasting, portfolio analysis and optimization, as well as resource and reserves re-conciliation in one platform. The modules are fully integrated to ensure standardized workflows and exchange of consistent data across business functions. Consequently, the application serves as collaboration platform for diverse technical and business functions.
The application will improve efficiency and standardization of workflows for OMV’s major business processes including aspired portfolio, budget planning, project tollgates and annual reserves review. The stakeholders will be able to reduce overhead effort, minimize risk of errors, and analyze multiple scenarios and price sensitivities to optimize decision-making. Due to the full integration of the application and the seamless flow of data across business functions, calculations will be processed faster and at higher quality.