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Merak Fiscal Model Library
Are you having difficulty keeping up with continually changing fiscal terms and modeling highly complex fiscal arrangements? Is your in-house modeling performed using spreadsheets? Would you like to have a corporate-wide application that easily and securely flows data from exploration and production to the planning realm without data duplication or cutting-and-pasting?
No one can afford to generate inaccurate results because of non-standardized economic models. Our fiscal-modeling experts—with more than 20 years of experience in modeling fiscal regimes worldwide—have developed a library of standardized fiscal models.
What is the Merak Fiscal Model Library?
The Merak Fiscal Model Library is a collection of over 140 standardized fiscal models (covering most petroleum-producing countries) that is used with Merak World Peep economic evaluation and decline analysis software. There are two distinct offerings available - Library subscription and Custom fiscal model solutions.
The complete model library is available through an annual subscription, and includes the following features:
- Quarterly updates to the library, including updates to existing regimes and new regimes.
- Each model includes an assumption sheet that summarizes the fiscal terms, contract legislation, model structure, and default settings.
- Negotiable fiscal terms are easily viewed or modified through user-friendly interfaces, and require no knowledge of Merak modeling.
The custom fiscal model solutions option is available through a custom license and includes the following features:
- Purchase and maintenance approach where client owns the finalized.
- Quarterly updates of the economic functions, documentation, utilities but no updates to fiscal terms of standard library models.
- Customization of models, training and support will be provided as a consulting service.
Benefits
SIS ensures your planning, risk, and reserves systems satisfy the most stringent regulatory requirements. Merak consultants select only the necessary capabilities, such as
- Standardized economic models that provide data integrity and confidence in your evaluations
- Quick access to Merak models for new regimes or when regimes change
- The ability to focus more time on analysis and decision-making, instead of on fiscal modeling
- All fiscal terms are exposed, making the Merak Fiscal Model Library ideal for contract negotiations
- A consistent look and feel that reduces training costs. When you use one model, you will be able to easily use any of them
- Extensive selection of standard reports that allows you to audit each calculation, barrel and dollar, to each party, using a material balance approach.
Maintenance and support
For an annual subscription fee, all your Merak "World" Peep users can access the Merak Fiscal Model Library. Your subscription includes dedicated support and maintenance of your Merak Fiscal Model Library-based models by our staff experts in the Merak Fiscal Model Library team and petroleum economics. You get
- global telephone and e-mail support
- quarterly model updates and new regimes
- best practices for model version control and documentation
For a custom license fee, all your Merak "World" Peep users can utilize all custom fiscal models. Your local SIS consultant will provide all necessary and needed services, training and support due to client specific modeling requirements.
Consulting and training services
The features and options of the Merak Fiscal Model Library models provide great flexibility, but because they are uniformly standardized, there remain some business requirements for evaluation or reporting that must be customized.
With a custom license, you will have access to all the library intelligence, library updates, documentation and tools. Your local SIS consultants can provide service and support to your various custom requirements including but not limited to -
Schlumberger Information Solution consultants can assist you with your specific needs in
- migrating your existing proprietary models into our standards
- complex partner arrangements
- detailed reserves-addition forecasting
- downstream economics
- project financing
- integrated financial reporting
- contract negotiations regarding new ventures, mergers, acquisitions, or divestitures.
Schlumberger Information Solution consultants have extensive experience in international petroleum economics, financials, and corporate planning processes. They can help with evaluations, negotiations, and modeling requirements. And we work with clients to streamline corporate reporting and planning systems.
We also provide training courses covering the use of the Merak Fiscal Model Library, basic economic principles, and more advanced new business uses based on our standardized methodology.
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