IDC ENERGY INSIGHTS OPINION
When a major event strikes the oil and gas industry — a change of regulation, a health and safety incident, or similar — it never affects just one company. It impacts the entire industry. This is why oil and gas companies — traditionally not inclined to share information with competitors — are gradually exploring new ways of collaborating to solve shared challenges.
ENABLING COLLABORATION
Elevating Collaboration With Cloud - Based Solutions
For oil and gas projects, considering the number of parties involved, the geographic spread of these parties, and the amount of data being dealt with, collaboration via an information-sharing platform such as the cloud is a promising option.
A private cloud-based solution is a good choice as it guarantees standard procedures for all parties. Also, a shared industry cloud platform, such as RigNet/SOIL, is even more able to address security concerns. According to IDC Energy Insights' International Survey on Security Governance, Risk, and Compliance, cloud adopters' key security issues when introducing cloud computing services into their organizations are dominated by data protection and compliance issues (25%), including data control over the cloud, privacy, and data localization issues.
Information Security is Not Threatened by Collaboration
Oil and gas companies deal with extremely sensitive data. Collaboration inherently requires increased data sharing, but this does not necessarily mean increased threats to data security and protection. In effect, data security and data protection can be guaranteed, even in collaborations where data sharing is a must, through appropriate data protection measures and processes and adequate data management.
THE BEST PRACTICE
E&P Information Management Association and its License 2 Share : An Example From the Norwegian Continental Shelf
Members of the Exploration & Production Information Management Association (EPIM) operate exploration permits, production, transport licenses, and joint ventures involved in activities on the Norwegian Continental Shelf (NCS). Members include leading global oil and gas companies such as Chevron, ConocoPhillips, ExxonMobil, BP, Statoil, ENI, Total, and GDF Suez. In addition, observer members include the Climate and Pollution Agency, the Ministry of Petroleum and Energy, the Norwegian Petroleum Directorate, and the Petroleum Safety Authority Norway.
To summarize, the key advantages of L2S are:
- Reliable administration and archiving of JV documentation
- Reliable collaboration on events, compliance, and legal document sharing and data management
- JV life-cycle content management of different document types, traceable and time stamped
- Easy alignment to changes in the JV life cycle
- Compliance with local legislation, including the flexibility to incorporate future changes in legislation
- A private cloud-based solution that is easily extendable and scalable
- A proven and accepted industry concept
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