Quorum Software celebrates 25th anniversary
Published by Sara Simper,
Quorum Software, a global software leader dedicated to the energy industry, has reached the milestone of its 25th year in business, reflecting on the significant innovation over the decades, and its plans for the future to help its customers achieve net-zero by 2050.
In 1998 and with only 10 employees, Quorum delivered the industry’s very first software for gas plant accountants and has since grown to become one of the most trusted partners in oil and gas, supporting more than 60 energy-producing countries and 1500 customers – from emerging operators to supermajors, international oil companies, and national oil companies. Today, Quorum manages a significant share of the world’s energy; more than 50% of global LNG cargoes, 80% of US natural gas, and 40% of the world’s hydrocarbon production is managed in solutions provided by Quorum.
Much of its tremendous growth over the years can be attributed to several notable acquisitions, including the most recent acquisition in 2021 of TietoEVRY’s oil and gas business, bringing in its industry-leading Energy Components solution for hydrocarbon management, and merging with Aucerna and its leading portfolio of integrated planning, economics and reserves solutions.
Together, Quorum and its combined companies have completed 24 acquisitions over 25 years, and now employ more than 1450 team members with centuries of combined energy expertise, across 31 offices worldwide, and contains a product portfolio of 38 applications – establishing Quorum as the largest software provider with the broadest portfolio of solutions focused entirely on serving energy companies.
“This milestone offers a moment to reflect on the journey that Quorum Software, our combined companies, and industry has been on, navigating the complexities of oil and gas while continuing to propel the industry forward with solutions that power growth and profitability for energy businesses,” said Paul Langenbahn, President and CEO of Quorum. “For the next 25 years, we will remain relentless in our mission to transform the business of energy through technology to deliver additional value to our customers as they transition to a more sustainable future to achieve net-zero by 2050.”
In addition to bringing the first gas plant accounting solution to market, Quorum has spearheaded many other innovative ‘firsts’ within the industry, including:
- Establishing the first dedicated hydrocarbon management system in 1998 with Energy Components, today’s de-facto market standard solution.
- Introducing FLOWCAL in 1998 as the first commercial hydrocarbon measurement solution for gas and liquids, and now manages the measurement process for more than 1 million m/d.
- Bringing the first oil and gas portfolio optimisation software to market in 1999, and today, remaining the only provider of its kind for the energy industry.
- Implementing the first industry hub for personnel logistics in 2001 with DaWinci, and has since seen more than 30 million passenger bookings, 1.5 million self-service check-ins, and over 80 000 registered users.
- Delivering Upstream On Demand in 2020 as the first true SaaS solution for upstream operators that integrates land, accounting, well operations, and production operations.
In 2022, after decades of acquiring leading technology companies, delivering digital solutions and ongoing value to energy companies worldwide, Quorum unveiled its Quorum Energy Suite (QES), a comprehensive portfolio of applications that unite data and workflows across the global energy ecosystem.
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