When the oil price tumbles, oil and gas companies look for new ways to increase their efficiency and reduce their costs. The industry’s insatiable need for computing power for analysis is making cloud computing attractive both because of the access to capacity it offers and the cost savings it can deliver.
Cloud-based oil exploration
The analysis tasks carried out by the oil and gas industry require access to high-quality up-to-date data, expensive specially developed software, and, not least, investment in powerful computing systems.
PetroPortal, which EVRY developed, provides the 70 oil and gas companies on the Norwegian continental shelf with access to high-quality raw data from the national Diskos database. This gives the companies access to exploration and extraction-related information such as seismic and navigational data and well and production data, together with advanced applications with which to process this data. All this is available via the same standardised, user-friendly interface.
Envision delivers solutions specially adapted for data analysis by the oil and gas industry. The company’s seismic analysis and reserve-modelling applications were also made available on PetroPortal in 2015.
PetroPortal is a cloud-based solution that provides simple, secure and cost-efficient access to graphic and processing-intensive applications and service programs for analysing oil and gas data from Diskos. By always providing high-quality, up-to-date information and advanced applications at a competitive price, PetroPortal saves user companies from costly and time-consuming processes. PetroPortal also enables the services available to the customer to be adapted to its requirements, both in terms of scope and breadth.
“The combination of Envision’s specialist expertise and EVRY’s delivery capability in this market segment means that despite the lower oil price, we see a bright future”, comments Åge Løklingholm, General Manager, Envision Data Management.
Capacity on demand
Users avoid having to make sizeable investments in data and applications and pay only for the computing power they use, with the computing capacity delivered adjusted to users’ requirements.
The Norwegian oil industry has been responsible for industry-leading innovation for many decades. Close collaboration with partners such as Envision means EVRY is on the way to setting the standard for more efficient data analysis in the oil industry.