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Genscape Launches Europe’s Only North Sea & Forties Real-Time Fundamentals Oil Data Service

Dépèche transmise le 11 avril 2012 par Business Wire

Genscape Launches Europe’s Only North Sea & Forties Real-Time Fundamentals Oil Data Service

AMSTERDAM, The Netherlands--(BUSINESS WIRE)--Genscape, a pioneer in the research, development, and deployment of patented in-the-field oil infrastructure monitoring systems, today announces the expanded launch of its Forties oil data service, the primary factor in establishing crude oil prices for the entire Atlantic Basin from Norway to Angola.

“It’s the difference between knowing and guessing; it’s a light bulb illuminating a dark room.”

The importance of the Forties oil system has been magnified as Europe contends with supply outages from Iran and the South Sudan, severe weather, and wide ranging macro-economic challenges. Meanwhile, cargo delays and production declines at the Forties – itself a complex network of over 70 offshore oil fields and 169 kilometers of pipeline – have exacerbated the oil markets need for greater transparency of actual oil fundamentals.

“Oil traders know the value of having access to the actuals, not estimates or algorithms or mathematical models, but true actual data obtained by in-the-field monitors,” says Abudi Zein, senior vice president for oil at Genscape. “Ten years ago, we launched an effort to innovate data collection of energy fundamentals. Our European oil offering couldn’t have launched at a better time.”

Genscape subscribers get half-hourly updates on flows to the on-shore portion of the Forties pipeline and the system tracks oceangoing tankers loaded at Hound Point. It also measures oil storage at Dalmeny daily and yields a complete and accurate picture of oil available for export. The pipeline is calibrated against the UK Department of Energy and Climate Change (DECC) data to insure a high degree of accuracy from every field located in the North Sea.

Genscape also tracks the operations of the fractionators at Kinneil and monitors the refinery at Grangemouth: all in real-time with subscribers sent automated email alerts on any disruptions. “We’re aware of disruptions often times even before the operator,” adds Zein.

“The accuracy of our data stems directly from our approach to measure, not estimate, market fundamentals using state-of-the-art technology,” says David Francoeur, chief marketing officer at Genscape. “It’s the difference between knowing and guessing; it’s a light bulb illuminating a dark room.”

To watch an educational video and register for a free 2 week trial, visit: www.genscape.com/forties

“Our mission is to increase transparency in global energy markets with a price-to-value model that accelerates market acceptance and reinvestment into basic research and development,” adds Francoeur.

To learn more and register for an expert demo, please visit: www.genscape.com/Forties Or contact: +31 20 524 4080 or [email protected]

ABOUT GENSCAPE

Genscape uses a wide range of infrared camera systems, electro-magnetic field monitors, high resolution aerial photography and other state-of-the-art techniques to measure and collect data on plant trips and outages, energy flows, inventories and flow rates. The data is then normalized and analyzed by a large staff of meteorologists, economists, and analysts using sophisticated mathematical models and algorithms. The data is presented in a series of maps, charts, and graphs so market participants can “see the energy” across a locality, region, or continent. The service also delivers alerts and market analysis, and paid subscribers get access to additional data and live, on call analysts to answer questions and deliver customized data.

www.genscape.com

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