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Asset Disposal

Case Study ID: 10770.   Related Categories: 

Through a company merger our client acquired an asset which did not fit with its global strategy. Venture was engaged to identify and isolate data to be packaged and transferred to the acquiring company.

Background

A number of activities were carried out:

  • Digital data from Landmark, Eclipse and GeoFrame projects with associated CPS files were retrieved from archived backups and restored. Wells were reviewed and identified; if outside the asset area they were deleted from the projects. Any seismic line segments that extended beyond the assets boundaries were removed.
  • Digital PC data belonging to all the asset team members was migrated to a set of standard pre-defined folders and backed up to CDs.
  • All of our clients data indices were inspected to identify physical data to be transferred. Copies of documents, which related to the asset and to regions beyond the asset, were made.
  • Hard Copy data held in the company’s office was identified, itemised, boxed and dispatched to the acquiring company. Physical data held by offsite storage contractors had their ownership changed to that of the acquiring company.

Outcome

An electronic and physical data package belonging solely to the asset to be divested.

Client Spotlight

BP
BP

From advisory services and data management through to EIM, Venture has delivered a wide range of Information Management solutions to BP’s upstream business