The Information Store and PGS Expand Agreement

What began as a long-term relationship between two niche players in the oil and gas industry now has become a global agreement making it easier for petroleum exploration and development firms to access and buy seismic data. The deal expands use of products and services between The Information Store (iStore) and Petroleum Geo-Services (PGS) worldwide.

PGS owns and manages an extensive library of multi-client seismic data, which it licenses for use by petroleum exploration and development companies. With the multitude of various seismic products and derivatives licensed via agreements throughout the world - coupled with the oil and gas industry's continued consolidation through mergers and acquisitions - managing these agreements can be challenging.

"Without the right technology, it would be very difficult to accurately manage our contract and data order history," said Marcia Starr, contracts manager for PGS, based in Lysaker, Norway. "That's why we've decided to expand use of iStore's PetroTrek software across our entire organization. Using these tools, we can better track our customers' orders, manage their contracts, and provide fast and efficient service to our customers."

PGS uses two PetroTrek solutions to manage seismic and customer data. The PetroTrek Seismic Sales and Trade system was installed at PGS' Houston office in 1997 to support data management operations. It has since been installed in the company's office in the United Kingdom. In 2002, PGS started using PetroTrek Direct Sales solution in its North & South America unit. Under the new agreement, the Direct Sales solution will be expanded to cover PGS data libraries around the world: Northwest Europe, Middle East, West and South Africa, and Asia Pacific.

With the two solutions, PGS can:

  • Effectively and efficiently track which client has ordered data from which seismic survey
  • Use a web-accessible map interface to view and place orders for seismic data directly against the seismic surveys, reducing the opportunity for errors
  • View each client's purchase history
  • Access contract details and summaries
  • Generate and track the paperwork associated with each order

"The maturity of the seismic industry has forced service companies to become more efficient at their jobs," said Barry Irani, president and chief executive officer for iStore. "With PetroTrek, PGS can manage both seismic and customer data much more easily via our secure, Web-based solutions. The results are considerable cost-savings and better service to customers. "

Historically, petroleum industry companies spend countless hours assembling data. But with so much information in so many different paper files and electronic databases, a thorough analysis has been virtually impossible.

The PetroTrek suite features Web-based applications that pull in critical information from across a company. Users can access the detailed information they need with the click of a mouse. PetroTrek does all of the hard work for them, accessing data from multiple databases and presenting it in a usable format.