Beyond Compliance – Focused Additions, Value-Add Customisations

Beyond Compliance – Focused Additions, Value-Add Customisations

In the dynamic world of oil and gas, data is king. However, managing and accessing that data, particularly when it comes to Well Data, can be a daunting task. The industry faces a unique challenge, how best to view these multiple sources of Well Data whilst also gaining some insight into their defined quality. In this blog post, we'll delve into this problem, explore why it exists, and reveal how Verifi’s Data Governance Methodology, combined with its Platform and bespoke solutions can transform the way we access and utilise Well Data.

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The Complexity of Well Data

The very nature of Subsurface Well Data is the origin of this problem:

• Wide-Ranging Data Sets: Well Data can be spread across many silos, often in bespoke or niche applications and stores, and in many varying formats.
• Increasing Volume of Data: More data and information are produced from a Well Bore than ever before, adding to the complexity.
• Manual Collation: Gathering a set of Well Data can be a manual task, and the information is soon out of date, as owners move around roles, organisations.
• Varying requirements: Having a wide range of Wells in varying points of their lifecycles can lead to different data being required to be viewed.

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Verifi’s View

Verifi’s Data Governance methodology starts to provide the foundation to solving this problem.  By implementing the methodology and focusing initial efforts into applying the right rules, the Well Data can then be surfaced, with confidence via the vBook. Using the vBook as the primary view of Well Data availability, businesses can start to see the benefits of effectively governed data and gain new insights into the data when it is brought together in a single location without the need to move, migrate, or alter the data.  Further enhancements to the system can be requested and additional key business data can be included, all flowing via the Governance platform.

Here's how vBook can aid your teams:

• Single View: All relevant Well Data is accessible in one place laid out in a way that works best for your business requirements.
• Customisation: Tailor the system to include specific data types relevant to your current business focus.
• Understand Risk: With the data having been subject Data Governance rules that you have requested, gain some trust and understanding of risk.
• Remove Manual: Remove the need for the manual update of spreadsheets and inventories, no need to rely on specific resources to maintain lists.
• Regular Updates: Keep your data up to date with little requirement for administration.
• Streamlined Operations: Enhance decision-making at meetings, well reviews and partner meetings with easy access to vital information.

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Conclusion

Navigating the complex landscape of Well Data requires more than just a spreadsheet; it demands innovation and adaptability. The vBook's bespoke core functionality plus its additions and customizations offer a transformative approach, providing a single, comprehensive view of Well Data that is tailored to your specific needs. This isn't just about solving a problem; it's about unlocking new opportunities and efficiencies. Building on a firm foundation of Governance, with vBook, you're not merely keeping pace with your data, you're leading the way towards a future where your data is an empowering tool, seamlessly integrated into your operations.

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