OMV Implements the ZEMA Suite of Products to Facilitate Market Data Collection, Analysis and Distribution
February 07, 2011 – Richmond, B.C. − ZE PowerGroup Inc. (ZE) announced today that OMV Vienna has successfully gone live with the ZEMA™ Suite to support its Risk and Portfolio Management activities. The ZEMA enterprise data management solution allows OMV to capture, manage and react to data across the European Oil, Gas, Electricity and other peripheral markets.
OMV was looking for a solution to capture, describe and centralize market, internal and broker data in real-time, automate the generation of composite curves and make them available to their portfolio and risk management systems. ZEMA was selected after a competitive tender process, and after successfully demonstrating it could meet OMV’s requirements through ZEMA’s strong data management, analytic and curve management capabilities.
ZEMA’s modular and open architecture allows OMV to easily integrate it with their existing systems. The benefits of the ZEMA implementation included:
- The capture of all data types from the market, internal systems and individual brokers directly to the customer site into a consolidated system.
- The seamless integration with existing databases through ZEMA’s Metadata layer – by describing the content and structure of these databases; information from these systems can be accessed, analyzed and dispatched through the ZEMA interface and core services.
- Ability to automatically create complex derived curves and data series. When inputs to a derived curve are available for an operating period, the results are pushed into consuming applications (ETRM/optimization systems) or made available for retrieval through web-services.
- The comprehensive validation and auditing of the raw underlying data and the derived results.
“With ZEMA, we achieved our ambitious targets to improve business operations by offering a solution which is integrating various data types in a centralized platform with value adding analysis capabilities.” stated Mr. Ulrich Endlich, OMV’s IT Service Manager. “Our data is now more accessible, to both users and downstream applications.”
Michal Peliwo, the Sr. Product Manager at ZE, who oversaw the implementation of ZEMA at OMV, believes that ZEMA stands out with its ability to act as a single repository for all market and internal information coupled with its raw and derived data distribution capabilities. He explained, “ZEMA is now driving the process of data collection, normalization and distribution to several key systems at OMV. OMV’s capable project teams easily extended ZEMA’s reach by performing some of the integration on their own by leveraging the Curve Management and Client Connect APIs. Integration becomes easier when all output from the data management system regardless of source, origination or type looks and behaves the same.”
OMV’s implementation of ZEMA has created a comprehensive enterprise-wide data management environment, with sophisticated reporting and analysis tools allowing the creation of a complete end to end, automated data management process; ZEMA became a fully auditable system of record for any input into the related business processes.