Wednesday, 27 January 2010

iStore Brings Cloud Computing to the Digital Oilfield

iStore on Thursday launched Digital Oilfield Online, a cloud-based hosting service for its PetroTrek software suite. The company unveiled its online cloud computing capability at the Microsoft Global Energy Forum, where it announced the immediate availability of cloud-hosted PetroTrek solutions in addition to its existing on-premises offerings.

iStore, which helps oil and gas companies access, organize and visualize exploration and production (E&P) data, has adopted the Microsoft Windows Azure Services platform for delivering Digital Oilfield solutions in the cloud.

Digital Oilfields, the business-focused decision-support technology in the petroleum industry, require substantial IT infrastructure to support data storage and information delivery. With the launch of Digital Oilfield Online, iStore will tackle the industry’s information management needs by applying the on-demand scalability, elastic computing and new cost structure offered by cloud computing.

The new service creates immediate value by eliminating costs associated with deploying an on-premises Digital Oilfield solution, saving companies as much as $200,000 on hardware and software, in addition to recurring maintenance and operating costs.

Digital Oilfield Online allows oil and gas companies to host their information-centric Digital Oilfield projects securely online. This includes asset management, production monitoring, health-environment-safety management, and joint venture collaboration. It also enables leveraging of on-premises data and external E&P content, such as IHS wells and production, through iStore’s data access and integration technology. The new service supports the Public Petroleum Data Model (PPDM), an open standard widely accepted by the industry for business-oriented data storage. This gives companies a roadmap for moving capital-intensive on-premises data management to the cloud.

“iStore is led by the market and our customers are telling us that agile, elastic IT is very important to their business going forward,” commented Barry Irani, president and CEO for iStore. Irani added, “Cloud computing not only helps our customers eliminate costly hardware and server software licenses, it jump-starts Digital Oilfield projects by cutting out the time-consuming infrastructure procurement process associated with delivering decision support solutions. The industry as a whole will make the leap when they know that their information is as safe or safer outside the corporate firewall – that’s why we consider data security the number one priority for doing business in the cloud.”

To ensure that Digital Oilfield Online meets the rigorous security standards required by the petroleum industry, CSC (NYSE:CSC), a Windows Azure Technology Adoption Program (TAP) partner, is assisting iStore with architectural review, security auditing, and the commercialization of the service.

Original Article - read more

1 comment:

michael jordan said...

One of the major profitable industry is Oil and Gas sector.Offshore sector using digital technology to get real time data and also improving the life of well and safety.Oil business is now less about 'exploration' and more about efficiencies.Let's see how this digital oil field going to help the industry's labour shortage with right skills in place.