Managing assets requires managing data

The most successful energy organizations are those that can maximize the value of their assets, whether they are oil and gas producing properties or transmission pipelines. The ability to integrate information from a variety of sources, along with a solid understanding of regulatory compliance issues and the capacity to manage risk, is critical to maximizing that value.

The productive life of oil and gas assets often spans decades. Newly-acquired assets will likely have years’ worth of supporting data. Even if a company owns an asset for only a short time, managing it for the long term is the best way to increase its value. To do this requires access to various types of data – typically held in many formats – to help the owners best decide what to do today.

National oil companies (NOCs) often deal with oil and gas assets that have been managed for generations. The NOC’s public trust is to use the country’s natural resources for the good of its people. To carry out this trust, the NOCs must consider all available data – from the past as well as the present.

Oil and gas assets are by their nature data intensive; there are few other industries for which primary property is unseen and known only through a series of indirect measurements and interpretations. With modern acquisition, networking and collaboration technology, managers are overloaded with well bore, seismic, drilling, production, interpretation and leasehold data, yet the management of that data is possibly the single most important activity an energy producer can undertake to maximize the long-term value of its energy assets.

Access all of your data in all formats with no data loss

Petris offers a range of software solutions that lets energy companies access all their applications and data within an integrated framework. The heart of the system is the revolutionary PetrisWINDS data management technology. The PetrisWINDS Enterprise Integration Framework is a scalable foundation that enables users to ‘plug-and-play’ the industry’s best software applications. For the first time, users can integrate ALL of their data, in ALL formats, without ANY data loss.

Asset history and mature field production:  How to get more from existing resources

Although energy companies naturally push new exploration, a growing number are returning to mature fields to use new technology to look for oil and gas which may have been overlooked or uneconomical to produce previously.  Such “brownfield” developments are frequently data rich but sometimes information poor - leaving current operators the task of sorting through reams of information, often in many different formats, and spanning 30 years or more.

By providing better access to the knowledge gained in the past, Petris solutions for mature fields can help operators lengthen the productive life of a field or slow its decline.  Operators can analyze historic field data to plan new wells more efficiently, often finding oil left over from past field management practices. 

The typical first steps are to evaluate to ensure quality, then to integrate all relevant field data using the text and map-based search and diagnostic capabilities of PetrisWINDS Enterprise. The goal is to make best use all available data, in whatever format it exists, to better understand the field in order to extend its productive life.