HOUSTON - November 11, 2009 - The Information Store (iStore) today introduced a detailed white paper that takes an in-depth look at the Digital Oilfield, assessing the information challenges and examining how data can be delivered in the most effective ways.
"Powering the Digital Oilfield," a seven-page white paper, is available upon request from iStore, the visualization and data management solution provider focused on petroleum companies' need to access exploration and production (E&P) data. It is also downloadable from the company website, at www.istore.com.
The white paper offers an objective look at the background of the Digital Oilfield, demonstrating how the need became clear over the last two decades for solutions that can draw E&P data from many sources, integrate it, and deliver it to the people who need it most to make informed decisions.
As the white paper points out, a truly effective Digital Oilfield requires a pragmatic information management strategy and selection of the right technology. Two key principles guide an integrated information strategy: first is identifying where information is being managed and make it easily accessible, integrating it along the way with relevant information from other sources, and second, where information is not being managed, adding a repository with the necessary workflow to manage it.
The white paper discusses the federated master data approach, in which data remains in its current location but is retrieved by the Digital Oilfield technology solution and integrated with other relevant data. This approach transforms data into actionable business intelligence that supports critical decision-making.
"This white paper is designed to educate and inform, to give people a holistic view of the Digital Oilfield and how this approach can overcome the problem faced by so many companies in this industry - islands of unconnected data that are hard to integrate into any actionable nucleus of information," said Barry Irani, iStore's president and CEO.
Included in the white paper is a detailed case study of a Digital Oilfield initiative undertaken by one of the world's largest integrated oil companies. It also looks at the iStore approach, particularly the benefits and underlying technology of iStore's PetroTrek® Digital Oilfield solution.