Benefits and Value of Data Exchange Standards
Adoption of these standards by energy companies and support of these standards by service, supplier and software vendors will:
- Allow energy companies to leverage their investment in highly instrumented fields to enable new capabilities for automation and optimization that would otherwise be impossible or difficult to achieve.
- Reduce the cost of information exchange between software within an operating company and between operating companies, partners, contractors, and regulatory authorities.
- Reduce the cost of replacing or substituting software to benefit from improved functionality.
Further value to vendors includes:
- Simplified methods to provide software as plug-and-play components. With standards-based connectivity, tools from a vendor can be more easily integrated within the IT architecture of the operator companies, which will reduce the hurdles and potentially increase likelihood of adoption.
- Lower costs of maintaining the vendor’s software suite. The vendor needs to maintain the standards-enabled compliant software components or at least standards-enabled connector(s), but is shielded from the need to develop and maintain components or connectors separately for each operator company.