Energy

Volatile oil and gas prices, increasingly complex and demanding regulatory and legislative changes and other pressures and risk factors all make operations for Oil and Gas companies consuming and difficult. Essentially there is a growing need for rigour and increased governance in terms of how organizations interact with employees and consortia members.

Being at the ‘edge of the network’ i.e. outside of the networked environment in remote or hostile locations, can lead to breakdowns of the expected norms of service levels where bandwidth is below that required and is unreliable; where latency can rise and make networks unusable or where network links become totally unavailable.

Network bandwidth may be increasing markedly but so is the volume and complexity of the application, the data and the regulatory requirements that are required to successfully exploit resources that are harder and more costly to extract. Increased engineering complexity, consortia complexity and regulatory requirements found at the edge of the network force constrained and legacy times resulting in distributed internet solutions ceasing to function in a timely manner. Distributed teams of workers find that they cannot access the data they require – compromising their operations or finding that the data they do have access to is not the current version driving errors into the corporate solution.

Regulations are posing both threats and opportunities financially and with reputational repercussions. Several complexities have arisen to make regulatory changes more complex and challenging i.e. consortia of hundreds of independent contracting companies who each bring their own set of technologies, expertise and labor to each project. Before the regulatory changes the Regulators were only engaged with the Prime Contractor to ensure health, safety and environmental regulations were being met whereas now they are engaging with the entire supply chain to ensure compliance at event level. Profound implications for recording and sharing of regulatory related data – any breach found has the potential to shut down operations revoking licences.

iOra provides a ‘single point of truth’ whereby each data element occurs in one place only in order for everyone in the company to have ready access to the most recent iteration of the key documents. Essentially it enables everyone within the company and consortia to be working on the same version of ‘the truth’ in order to keep mistakes, errors or omissions to a minimum.