Regulatory agencies exist in every oil and gas region and they all share the same overall goals of exploiting their territories and maximizing revenues. Although regulatory agencies compete with each other to promote investment in oil and gas, there are many facets of their business that are a shared burden and from which they derive little competitive advantage.
Regulatory agencies typically issue consents/permits for a number of activities for which they require some technical information to make this decision; they are also responsible for storage and maintenance of a vast amount of technical data generated in E&P activities.
Agreed standards for collecting and transmitting regulatory data enable regulatory agencies and oil companies to focus on business and not on exchanging data. The Energistics Regulatory SIG and associated work groups provide the environment for defining reporting requirements to the Special Interest Groups that develop the data exchange standards.
Energistics supports the following SIG and associated work groups:
Regulatory SIG - umbrella organization under which work groups are organized.
Work groups are organized as needed.
The WITSML and PRODML data exchange standards contain the known data elements required for regulatory reporting. The Regulatory SIG and associated reporting work groups are responsible for defining reporting requirements to the associated data exchange special interest groups for inclusion in the standards and development of fit-for-purpose reporting schemas.