Barry Irani
CEO
iStore
/
View from the Top

Software Solutions for Oilfield Data Management

Wed, 01/20/2016 - 12:19

Q: Who are your main clients, and what challenges have you helped them to overcome in the oil and gas E&P sector?

A: iStore clients include IOCs, NOCs, and service companies. iStore has been providing products and services to PEMEX since 1997, a relationship we are proud of. We place great value in our ability to support PEMEX and our other clients, and to meet their business needs over the past 20 years. The Energy Reform in Mexico and current low oil and gas prices make these partnerships even more important and meaningful. Our products and services focus on data access, data quality, and data visualization. Our deep domain knowledge and experience enables us to develop products, customized solutions, and workflows, in order to meet the technical and business needs of our clients. Most of our iStore team members come from the oil and gas industry. Our products and services enable our clients to quickly and easily access data from multiple databases, view the data in context, and be able to analyze and share data in a secure web based environment.

Q: At a time when cost is vital for the market, how do you reduce downtimes when migrating customers to iStore solutions?

A: There are two possible areas of downtime: downtime of people and downtime of wells. Regarding work disruption of people due to systems installation and upgrades, our web based software and solutions are delivered, installed, and implemented with no interruptions to the user community. Rapid deployment cycles have always been key for us. We leverage our client’s existing data sources and infrastructure, enabling them to optimize the use and analysis of their data. Since we adopt the federated data model, meaning we connect directly to the required data bases and do not move data. Our processes are fast, seamless and non-intrusive. With our systems, clients can work without disruption even if the back-end systems and databases are changed or migrated.

Q: In which ways are you able to improve production through your asset management and production operations (AMSP) solutions, and how is this done differently to your competitors?

A: All of our products and solutions have one fundamental similarity in that they connect to and leverage existing databases and applications. PetroTrek’s capability to bring data together from many official systems of records spanning from corporate systems to local real time SCADA systems makes it invaluable for operations teams to monitor asset performance. Up-to-date information including daily reports, KPIs, alerts, and shift logs are accessible by both individual engineers and managers from any location. The major distinction in iStore’s solutions is our approach in viewing asset management and production operations holistically, then adapting technology to address real business requirements. Using new generation web-based technology, our software and solutions complement existing applications and systems. We integrate and organize fragmented views into contextually rich and easily accessible forms, which transforms separated data into a more useful context, providing insights from which actions can be taken to improve performance.

Q: What products and services have driven your demand in the past year, and how do you expect this to change with the progression of Round One?

A: We do not anticipate a great change since the needs of the market will remain the same. Data management activities have become more important than ever. We expect this to continue, but in the context of specific activities such as farm-outs and regulatory compliance. Analyses will still be required, and fields will still require evaluation, with operators looking to increase production and cut costs. Solutions that work well with what is already in place will be important, since technology budgets need to go further and contribute to short-term profitability as well as long-term goals.

During Round One and beyond, the fundamentals of providing easy access to information from various systems and improving the quality of data and data management remains unchanged. The new challenges will be working with both internal and external partners, helping them to collaborate effectively and efficiently, and at the same time providing regulatory agencies with timely reports.