The energy industry plays a crucial role in all our lives. Without it, we wouldn't be able to keep the lights on...or the wifi, or the computers...and so on, but what is it that powers this critical industry?
Organizations today work with a great volume and variety of data. The trick is using that information in ways that improve the performance of the organization. One example is in the oil and gas industry where the stakes are extremely high; involving millions in revenue. Government approval for exploratory oil and gas rights are awarded to companies with the best technical application. The trouble is, assembling and authoring highly complex, high-value documents like exploratory proposals and regulatory submissions – which can often be thousands of pages – is a huge challenge.
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People often seem to think oil & gas companies are leading-edge and have enough money to invest in whatever systems they like and that they live in a World of 3D models, data, and analytics. The real picture is often very different. Exploration and production companies, who search for and extract hydrocarbons, see information systems and information management as something necessary but not something that excites the interest of the board. Data is certainly much in evidence, but information overall is not treated as ‘the new oil’ by the industry. Much of the focus on data is within the geoscience discipline, from the creation of seismic surveys to reservoir modeling and interpretation. The techniques have changed a bit, but mostly we see increases in resolution, frequency, and speed of analysis. This clearly improves the odds of making a discovery and reduces the financial risks of drilling.
There's a lot of value in chatting with your peers in your field of expertise. But, there's even more value when those peers are from the same industry. Often certain industries have their own unique challenges and it's beneficial to be able to connect and share. That's the basic idea behind AIIM's Special Interest Groups (SIGs). We're excited to announce our Oil and Gas SIG. Below is a quick message from John Mancini announcing the group, it's focus, and how to join. Not in the Oil and Gas Industry? Check out our full list of SIGs on the AIIM Community Site.