China: CNOOC Selects Telvent LNG Supply Management Platform

Telvent, the leading real-time IT solutions and information provider for a sustainable world, announced that it will be providing a comprehensive liquid natural gas (LNG) supply management platform to the China National Offshore Oil Corporation (CNOOC).

The information management capabilities made possible with the Telvent solution will help CNOOC effectively manage its LNG production operations, corporate sales and accounts and trading risks – all to improve profitability and position CNOOC and China as leaders in clean energy trade.

CNOOC is China’s largest producer of offshore crude oil and natural gas and one of the largest independent oil and gas exploration, production and sales companies in the world. It chose to work with Telvent to implement an ambitious LNG supply management solution, based on Telvent’s broad expertise in hydrocarbon industry information management solutions and, in particular, its experience in helping modernize the Chinese hydrocarbon industry.

The software platform to be developed and implemented by Telvent will centralize production monitoring and control and management of LNG shipping schedules, automated tanking and inventory control. This control system will interface with a system that manages trade settlement and sales contracts and integrates with a new billing system. A co-engineering process between CNOOC and Telvent will identify the specific functionalities required; the project is expected to be completed in two years.

According to Telvent’s chairman and CEO, Ignacio González, “We are eagerly anticipating the opportunity to extend Telvent’s proven expertise in hydrocarbon pipeline operations management to the optimization of LNG and energy risk management. Our goal is to provide the highest quality of service to CNOOC in the development of this unique, energy-sustaining solution.”

[mappress]

Source: Telvent, March 9, 2011;