Exploration & Production (E&P) organizations are now no longer single corporations but a loose collection of Oil Field Services (OFS) providers, logistics and distribution organizations. Extensive collaboration with various stakeholders is required to access data and information from various sources in day-to-day operations. Thus, sharing and synchronizing data between multiple disciplines and departments has become one of the key business challenges.
The Oil and Gas industry has tried for almost two decades to create a common data model. Even though some data standards have been established, none of these have been able to meet the enterprise needs.
Our Master Data Management (MDM) service offering could help organizations to manage the validated and corrected master data on the lines of “Dublin core” metadata attributes and connect to different data sources. For example, in E&P industry, a well is considered as a fundamental entity and data models store and track wells with unique identifier (ID). However, different applications dealing with lease bids, well logs, drilling, etc. have different IDs for the same well, which leads to data integration and access issues. MDM helps in resolving the issues arising out of multiple IDs for the same entity or attribute.
Effective MDM helps in achieving knowledge-enabled enterprise, empowering E&P stakeholders by providing validated data and key information at the right time for easy decision making. It helps improve collaboration among people by integrating processes, services and repositories.