Quorum Software Announces Significant Momentum for Energy Components, Hydrocarbon Management Solution

Innovation Driven by Global Need for Solutions to Support LNG Operations, Environmental Monitoring, and Digital Transformation in Oil and Gas

HOUSTON, January 31, 2023 – Quorum Software (Quorum), a global software leader dedicated to the energy industry, today announced its hydrocarbon management solution, Energy Components, has gained significant momentum throughout 2022 and is now deployed with more than 100 customers in 55 countries, including major IOCs and NOCs.

Energy Components is one of the most recognized products in the Quorum Energy Suite and is the industry’s most comprehensive hydrocarbon management solution for upstream and midstream energy companies globally. Its capabilities streamline hydrocarbon management workflows to support more than 40% of the world’s hydrocarbon production, manage a company’s environmental footprint with emissions monitoring and tracking, and is proven to operationalize new LNG terminals in only 3-5 months.

When deployed in the cloud, Energy Components delivers the most reliable, secure, efficient, and cost-effective workloads that accelerate a company’s digitization strategy. In 2022 alone, Energy Components achieved 95% growth, nearly doubling its customer base, and was awarded as the “New Product of the Year- India" by the Asian Oil & Gas Awards 2022.

“Energy Components has been a leader in the market for nearly two decades, deployed in some of the largest and complex commercial operations around the world,” Tyson Greer, Executive Vice President & Chief Product Officer at Quorum Software. “During a particularly critical inflection point for oil and gas, we’re proud that our ever-evolving software continues to be the go-to provider for digital transformation within the industry.”

Quorum announced two releases to its Energy Components software in 2022, introducing additional capabilities to optimize production management, strengthen LNG operations, and further meet emissions compliance standards. Its latest update offers more automation for production management workflows to support operators with daily and monthly allocations, in addition to enabling the use of specialized extensions and advanced reporting and analytics. It also offers updates to its environmental management capabilities to expand coverage of Scope 1 and Scope 2 emission requirements that help monitor and reduce carbon footprints by automating emission calculations.

The next release in early 2023 will focus on key capabilities for improved production planning and forecasting, enhancements to well testing, cargo and pipeline nomination, and Scope 3 emissions management.

For more information about Energy Components, visit https://www.quorumsoftware.com/solutions/by-name/energy-components/.

About Quorum Software

Quorum Software is a leading provider of energy software worldwide, serving more than 1,800 customers across the entire energy value chain in 55 countries. Quorum’s solutions power growth and profitability for energy businesses by connecting people, workflows, and systems with decision-ready data. Twenty years ago, we delivered the industry’s first software for gas plant accountants, and today our solutions streamline business operations with industry forward data standards and integrations. The global energy industry trusts Quorum’s experts and applications to successfully navigate the energy transition while delivering value today and into the future. For more information, visit quorumsoftware.com.