iStore Unveils Digital Oilfield Online

iStore has 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.

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.

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."