Petrotranz and Pandell® Alliance Benefits Crude Oil Transporters
Calgary, AB – (February 28, 2008) Calgary based companies Petrotranz Inc. and Pandell Technology Corporation, made public today that a corporate alliance forged between them nine months ago has resulted in the first web-based, automated system for tracking crude oil production forecast volumes from wellhead to market.
The alliance was initiated in early 2007 when Petrotranz began investigating possible partners to develop the Crude Oil Transportation System (COTS). In July 2007, an agreement was formed with Pandell and the companies began work on a solution. “We had the experience and industry expertise to formulate a plan, but finding the right technology partner to drive it was as critical as the plan itself,” says Brent Stankowski, CEO of Petrotranz. ”We chose Pandell because of the company’s Software-as-a-Service platform and proven track record in delivering and supporting secure, large-scale solutions. That decision has really paid off with Pandell developing COTS in record time. The solution is fast, easy-to-deploy, and easy-to-use; all essential components for the long-term success of COTS.”
COTS – now available to pipeline companies, shippers and producers – promises to revolutionize the crude oil pipeline industry’s forecasting and tracking processes. It was developed with one unifying purpose: to deliver a better alternative to the inefficient, paper-based processes that have plagued the crude oil movements industry for years. “Petrotranz's vision of a web-based, secure solution for tracking crude oil was clearly a logical step forward for the industry,” says Greg Chudiak, President and CEO of Pandell. “We are privileged to be part of something that will have such a significant impact on the energy industry.”
Project input and direction was provided by a seasoned group of energy executives, and an ongoing pilot group which includes a major pipeline operator and a group of shippers and producers. “This historic and collaborative initiative solves a major pain point for the crude oil pipeline industry,” says Ron Gagnon, Vice President and Industry Advisory Board Chairman for Petrotranz. “COTS will significantly reduce the amount of paper-shuffling necessary to transport crude oil, while greatly enhancing communication between the working parties.”
An introductory information session will be held in downtown Calgary for interested parties.
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