Membership growth supports the consortium’s mission to standardize data exchange formats across the upstream oil and gas industry
Houston, November 14, 2018: Energistics Consortium Inc. is pleased to announce the thirteenth new member to join the Consortium in 2018 for a total of 111 member organizations.
The record number of new companies joining in the development and adoption of upstream data exchange standards correlates well with the improving business environment for operators, oilfield service companies and technology companies active in oil & gas.
The push for Digital Transformation and the growing interest in Data Analytics, Machine Learning and Artificial Intelligence have all contributed to an increased awareness of the need for trusted data in order to deliver high confidence results when using these new solutions. At the same time, the emphasis on collaboration and partnerships across the industry to reduce risks and control costs has resulted in a strong growth in data sharing and exchanges. The Energistics standards allow companies to measure and convey the quality of the data they are using, thus reducing the time spent in data validation and correction, while also increasing confidence in the result.
“The very positive trend of new memberships over the past year testifies to the critical role of data exchange standards in support of the digital goals of the industry,” said Ross Philo, president and CEO of Energistics, “the diversity of our membership is the guarantee that the solutions that are developed address the needs of all stakeholders in the upstream oil and gas industry.”
A full list of member organizations can be found at www.energistics.org/category/members.