For any operator introducing third-party production to existing facilities, allocation is a crucial issue which determines the revenues of all the parties concerned.
Process simulation is often the best method of allocating products accurately, although to use it effectively presents a number of operational challenges.
However operators are increasingly realising how important it is to meet these challenges, as the cost of doing so is small compared to the risks and potential consequences of using a less accurate allocation method.
Simulation packages have been widely used for many years, but have historically not been well integrated with hydrocarbon accounting. Rather than running the simulation for every allocation period, various methods have been used to approximate the results. Given the financial significance of these calculations, this may not be a desirable solution.
Axis CHARM Integration
We have fully integrated the CHARM process simulation software package into Axis. CHARM performs quick and efficient calculations to track hydrocarbon ownership as the various components pass through a process facility partitioning into liquid and gas phases.
With the Axis/CHARM integrated system, complex process modelling calculations can be performed within a few seconds. This allows full hydrocarbon modeling based allocation to be performed on an hour -by- hour basis.