iStore Brings Cloud Computing to the Digital Oilfield

Jan. 21, 2010 - PRLog -- iStore today launched Digital Oilfield Online, a cloud-based hosting service for its PetroTrek® software suite. The company unveiled its online cloud computing capability at the Microsoft Global Energy Forum, where it announced the immediate availability of cloud-hosted PetroTrek solutions in addition to its existing on-premises offerings.

iStore, which helps oil and gas companies access, organize and visualize exploration and production (E&P) data, has adopted the Microsoft Windows Azure Services platform for delivering Digital Oilfield solutions in the cloud.

Digital Oilfields, the business-focused decision-support technology in the petroleum industry, require substantial IT infrastructure to support data storage and information delivery. With the launch of Digital Oilfield Online, iStore will tackle the industry’s information management needs by applying the on-demand scalability, elastic computing and new  cost structure offered by cloud computing.

The new service creates immediate value by eliminating costs associated with deploying an on-premises Digital Oilfield solution, saving companies as much as $200,000 on hardware and software, in addition to recurring maintenance and operating costs.

Digital Oilfield Online allows oil and gas companies to host their information-centric Digital Oilfield projects securely online. This includes asset management, production monitoring, health-environment-safety management, and joint venture collaboration. It also enables leveraging of on-premises data and external E&P content, such as IHS wells and production, through iStore’s data access and integration technology. The new service supports the Public Petroleum Data Model (PPDM), an open standard widely accepted by the industry for business-oriented data storage. This gives companies a roadmap for moving capital-intensive on-premises data management to the cloud.  

“iStore is led by the market and our customers are telling us that agile, elastic IT is very important to their business going forward,” commented Barry Irani, president and CEO for iStore. Irani added, “Cloud computing not only helps our customers eliminate costly hardware and server software licenses, it jump-starts Digital Oilfield projects by cutting out the time-consuming infrastructure procurement process associated with delivering decision support solutions. The industry as a whole will make the leap when they know that their information is as safe or safer outside the corporate firewall – that’s why we consider data security the number one priority for doing business in the cloud.”

To ensure that Digital Oilfield Online meets the rigorous security standards required by the petroleum industry, CSC , a Windows Azure Technology Adoption Program (TAP) partner, is assisting iStore with architectural review, security auditing, and the commercialization of the service.

“CSC is proud to team with iStore on the Digital Oilfield Online. CSC is at the forefront of Cloud Computing through our work with clients and CSC’s Leading Edge Forum. As a result of our research and hands-on experience, our clients are benefiting from a cost effective platform that enhances collaboration and improves asset optimization and business performance. The Cloud makes this innovative and market-leading solution available to a wide range of E&P companies in a very flexible business model,” said Bob Welch, president of CSC’s Chemical, Energy and Natural Resources Group.

In 2009, CSC and iStore announced an alliance agreement in which CSC would act as primary systems integrator in the global distribution of iStore’s PetroTrek solutions.

“iStore’s Digital Oilfield Online offering is an example of the type of solution Microsoft envisioned when we launched Windows Azure to the oil and gas industry earlier this year,” said Craig Hodges, Microsoft general manager, Manufacturing & Resources Sector.  “Today’s oilfield business and operations climate is defined by unprecedented complexities and the continuing need to do more with less. Solutions like this one that eliminate costs and promote better business intelligence using the Microsoft platform in a secure computing environment will be instrumental in launching a new level of efficiency in the industry.”  

About iStore
iStore helps petroleum companies access exploration and production (E&P) data wherever it resides and presents it in a useful form. As a result, customers improve asset performance, reduce cycle time and maximize return on investment. Most importantly, iStore’s suite of software solutions puts the information E&P asset management teams need to make good decisions at their fingertips. Founded in 1994, the privately held company’s headquarters are in Houston. For more information, visit www.istore.com.