Data management
- Sound data management philosophy, processes and procedures are essential for the successful operation of any company
- Reliable data are a critical resource upon which upstream oil and gas operations depend
- Once mislaid, data are expensive to replace or, with interpreted data, impossible to recover
- Data volumes are increasing exponentially and once immediate operational needs have been met, data are frequently forgotten and not returned for publication into a Corporate dataset
- As staff move on and technology and formats progress, data become irretrievable, with the result that data have to be reworked or recaptured
- In order to arrest declines in reserves, old data are being revisited to take advantage of the latest processing techniques
Studies indicate that many E&P professionals spend more than half of their time looking for data. The cost implications and frustration of missed deadlines are considerable.
Companies investing in Data Management strategies will see the benefit as they are able to shorten the time between well planning, drilling and producing recoverable reserves. These companies will also be better placed to meet the requirements imposed by DTI and Sarbanes-Oxley regulations.
For further information on how DataCo can meet your data management requirements, please contact us.
