Old Data, New Value - How Technology, Regulations and Need is Driving our Consumption within E&P
Beebee, Craig J.¹; Blue, Dale²
¹Halliburton, Leatherhead, United Kingdom.
²Halliburton, Houston, TX.
Inward investment's to drive new discoveries from IOC's and NOC's into both new and established countries is one of the accepted ways of driving new discovery. However, while expenditure is growing, where to invest is being driven by an increase in regulatory pressures, openness and board/audit scrutiny are being seen as top deal pressures for the O&G industry.
This paper looks at the growing demand for access to the nation's E&P related data on which to make these decisions. Users today are familiar with the concept of access of information via the web using tools like YouTube and Google Earth. Data managers familiar with Cloud Computing and Data Hosting allow them to download data and information when and where they need it. But will these technologies be suitable for our Industry? What data is needed? How long to store/provide data?
While data on demand offers quick access to data and faster decision making processes provided by accurate trusted data, they introduce challenges for both IT Organizations and Government Regulatory Bodies to make this easily available. How are key vendors enabling automatic access to data? How will countries control and manage the volumes and security aspects of enabling view and download data. What will be required of technical applications and changes in nations approach to allow access to data to make this possible?
This paper will introduce key industry trends and discuss challenges and possible changes in appreciation of data to address the demands of the global industry in the future.
AAPG Search and Discovery Article #90155©2012 AAPG International Conference & Exhibition, Singapore, 16-19 September 2012