iStore Turns 15, Plans to Take Digital Oilfield to the Cloud

December 2, 2009 at 12:07 am Leave a comment

The Information Store (iStore), a “digital oilfield” pioneer, celebrated its 15th anniversary with customers from around the globe at an event at the St. Regis Hotel in Houston, TX. The company’s PetroTrek® Web-based software enables oil and gas companies to connect disparate islands of E&P data to enhance business intelligence and decision-making at a fraction of the cost of traditional approaches. Today, PetroTrek supports common industry platforms such as Microsoft Office SharePoint Server, and is used by Marathon Oil, BP, and some of the other largest oil companies in the world. iStore makes it easy for geoscientists, engineers and managers to identify, track, capture and share corporate knowledge to support exploration and production asset management, including field optimization and reservoir management.

            Phiroz “Daru” Darukhanavala, Chief Technology Officer for BP, who delivered the keynote address at the event, recalled when data was hard to uncover. “We used to say ‘wouldn’t it be nice to have more data, so we can make better decisions?’ Be careful what you wish for. Now we are drowning in a sea of data. Today we collect every second what we used to collect in a week. Data is useless until you can make it actionable, which iStore enables us to do.”

            Going forward, the company plans to introduce the oil and gas industry’s first cloud computing service offering. This new computing model takes the digital oilfield to the next level by allowing oil companies to improve efficiency and productivity, reduce operating costs, and enhance asset management and business intelligence. Stay tuned to PetroComputing for more details.



Entry filed under: Data & Knowledge Management, Interoperability & Integration. Tags: , , , , , .

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