The Open Platform Imperative for the Energy Industry
Abstract
The energy industry is undergoing unparalleled transformation driven by Covid-19 demand shock and long-term energy emissions reduction trends. Accelerated digitalization and unlocking the value of data are the imperatives to remain competitive.
Join us to learn about the industry-led and inspired Open Group OSDU data foundation and why preparing for this open source data foundation now is critical to the long-term success of the energy industry.
The OSDU Forum has been collaborating on solving the decades-long battle of accessing multi-source and multi-level complex E&P data that is locked in non-standard repositories and within software vendor proprietary data models and home-grown implementations. The full release expected in early 2021 will encompass the full spectrum of E&P data from exploration, development and wells and production; however, the vision beyond an integrated upstream data foundation is to include the supporting supply chain for existing (gas) as well as new energy and future energy sources such as wind, solar, hydrogen, hydro, geothermal etc.
What will the OSDU Data Foundation help me to do?
- Find meaningful data that is curated, integrated and accessible across workflows, ultimately reducing the need for data transformations and migrations that are costly and do not add business value to subsurface interpretation or understanding.
- Understand data lineage and relationships including registering and understanding decision history on data sets – leading to trusted data decision-making and greater confidence in geoscience interpretation and understanding.
- Access a seamless enterprise data foundation enabling cross-disciplinary workflows (geoscience, engineering, planning and fiscal) – a single view of all subsurface data regardless of user or location.
- Greater choice and flexibility across leading technology and interpretation software without worrying about proprietary data models attached to the software.
- Increase data portability across business and technical borders.
- Accelerate data exchange between JV partnerships.
- Shorten time cycles for purchasing, selling and integrating data through M&A integration.
What I need to know to understand the options available to power the OSDU Data Foundation?
The OSDU data foundation is based on cloud-first architecture, however there are several options across public, local or private(clouds) an on-premise infrastructure or edge offerings. A key decision point is ensuring a secure, reliable and homogenous data platform across any infrastructure to enable the unique operational needs of the energy industry.