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3esi and Remsoft Partner to Fuel Integrated Business Planning for the Oil & Gas Industry

November 3rd, 2011

Joint solution helps close the gap between planning and actuals, optimizing asset development plans and improved economic performance for oil & gas clients.

FREDERICTON, New Brunswick – November 3, 2011Remsoft, a leading provider of asset optimization and supply chain analytics solutions, and 3esi, an international E&P software and services company committed to serving the Oil and Gas industry, today announced a strategic partnership to serve the oil and gas industry.  The companies will combine 3esi’s industry-focused software with Remsoft’s powerful optimization platform to deliver customers the intelligence needed to manage the long-term assets for oil and gas companies around the world. The integrated business planning capabilities of the combined 3esi-Remsoft solution will enable oil and gas companies to ensure long-term sustainability of their assets and the environment as they explore and harvest new and existing hydrocarbon sources.

According to a Research and Markets report, “It is estimated that in 2011, the global oil and gas industry will witness a total capital spend of $928 billion.”  This capital spend represents investments in infrastructure, equipment and facilities to support the delivery of hydrocarbons to the downstream industry.  The scale of this market offers the opportunity for sizeable cost-savings and operational efficiencies to be realized by optimizing these assets.  The 3esi-Remsoft partnership is focused on helping oil and gas companies to improve financial performance by dynamically managing their assets around the world.

“It’s critical to be able to optimize asset planning across time horizons, whether it’s over three months, six months, one year or 10 years--and nowhere is it more important than in the oil and gas industry,” said Wayne Sim, CEO of 3esi.  “3esi looked at a variety of technologies to help our clients optimize their asset value, and Remsoft’s role as the de facto standard in forestry was the closest analog to the oil and gas industry.”

Volatility in the oil and gas commodities market is driving the need for flexibility and agility, forcing companies to adjust budgets and resources more dynamically than in the past.  In addition, margins are shrinking, driven by expanding adoption of unconventional hydrocarbons increasing the need for greater transparency and predictability.  The drive for long-term sustainability of both hydrocarbon sources and their related assets puts increased pressure on oil and gas companies to make the most of what they have while planning for future opportunities.  Combining 3esi’s technology and expertise with Remsoft’s powerful optimization platform helps companies maximize asset value by enabling them to select the best opportunities and when to execute them within the complex, changing constraints of the asset.

“In complex markets like forestry and oil and gas where margins are shrinking and capital assets are managed over decades instead of months or years, the ability to produce models and make decisions based on myriad time horizons and variables is crucial to optimizing performance,” said Andrea Feunekes, co-CEO of Remsoft.  “3esi is a world-class supplier of innovative software solutions for oil and gas companies and we look forward to contributing Remsoft’s expertise and technology to help clients increase capital efficiency and improve financial performance through the entire oil and gas value chain.”

At the planning stage, companies are typically constrained at the asset level by the physical realities--so what might be feasible from a financial perspective is not always feasible from a physical perspective.  3esi leverages Remsoft’s technology to bridge the gap between planning and actuals, giving clients the visibility and intelligence to make the best decisions for their business over multiple time horizons and taking into consideration countless asset and physical variables that impact their assets.

“Remsoft’s modeling and optimization technology has proven to drive 5-10% savings in forestry operations.  Many of the same spatial, time horizon and regulatory problems also affect oil & gas operations, but of course on a scale that is almost twenty times larger overall.  This is a compelling opportunity,” said Kevin O’Marah, Senior Research Fellow, Global Supply Chain Forum, Stanford University.

About 3esi
3esi is an international E&P software and services company committed to serving the Oil and Gas industry by creating Integrated Business Planning and Capital Management Software Solutions. For more information, please visit www.3esi.com.

About Remsoft
Remsoft provides asset optimization and supply chain analytics solutions that empower executives to maximize the performance and value of land-based and infrastructure assets.  Through advanced analytics, modeling and spatial planning technology, Remsoft simplifies complex, high-variable decisions to fuel long-term sustainability.  Hundreds of organizations worldwide utilize Remsoft software to make the most of their resources and assets.  For more information, please visit www.remsoft.com.

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Media Contact:
Sandi MacKinnon

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