Publication Name: PESA Journal No. 25
Authors: M.F. Frost
Publication Volume: 25
Date Published: December 1987
Number of Pages: 10
Reference Type: Journal Article
Abstract:
Master the process of implementing innovative IT andmake gains. Choose the wrong IT and suffer. These
opposing outcomes are driving cooperation amongst E&P
competitors. Pooling resources is an effective strategy to
mitigate risk-be it the risk of the Year 2000 Bug or the
risk of implementing frontier IT solutions. Narrowly
focussed, joint-industry IT initiatives pose realistic hope
for practical IT innovations amongst companies that
believe IT frontiers fall outside their core competence.
Defacto standards will plausibly result and lead to lower
costs and reduced complexity. Just such standards pose
the opportunity of savings in the range of US$1 to US$3
per barrel produced. Given the IT component of costs is
now roughly US$0.25 for each barrel produced, the incentive
is clear.
Expect change for the better. Encouraging trends
include de-facto standards in relational databases
(ORACLE), the development of fast processor-independent
program codes (JAVA), powerful search engines
and fast internet-type communications.
E&P IT will continue to change the way we work.
Management will continue to be challenged-to chose
fit-for-purpose IT; do so just-in-time; and to maintain
access to motivated, well-trained professionals to effectively
use those new tools. Shared (cross-functional)
databases, easily accessible applications and interconnected
workstations are the catalysts for multi-locational,
multidisciplinary teams that will improve corporate
performance. Implementation of capacity planning
metrics can minimise the pain of slow connectivity and
system upsets. Organisations that learn how to apply the
right IT at the right time will be competitive