Dynamic Asset Management for Oil & Gas [Video]

Michael Elkins, from KeenIM, walks us through examples of how Dynamic Asset Management for Oil & Gas is achievable using Office 365 and Records365.

Transcript

 

EricaHi. I’m Erica Toelle, product evangelist for RecordPoint.
MichaelI’m Michael Elkins. I’m the president of KeenIM.
EricaMichael, we’ve been having a great time here at ARMA, and thank you so much for joining us at our booth today.
MichaelSuch a treat. Great.
EricaWe’ve been having a interesting conversation about the future of information management, especially in the oil and gas industry. Where do you think that that industry might be in the next five years in regard to information management?
MichaelI think right now, the oil and gas industry is going through a bit of an evolution where the data, the information that they’re gathering about all of their assets, whether it’s wells or pipelines, whatever it happens to be, they’re getting much more efficient and much more progressive about how they’re dealing with all of that data.

Where we used to have islands of automations, so you’d have data in one system and data in other systems spread throughout that really didn’t communicate and didn’t really work too well, that’s really starting to change. Oil and gas companies are really starting to really look at the structure of where they keep their data. You’re starting to see more master data repository. The source of the data is becoming much more clean, much more clean, and how that’s going to impact and how that is impacting the information management side in the content management world is now that gives us a really rich place to go get information about the content we’re storing. All of the content we store related to an oil and gas company really does have to go and deal with either a transaction or an asset or if it’s a well, and most of this data is long-lived, most of the content we capture, so decades, very long time for an energy company.

Now, we can actually leverage all of that information that’s coming from all these rich data sources, tie it in, and not statically the way we used to in content management, but really dynamically so that if something changes in the Well Master or something changes in the pipeline, in the operating model for the pipeline, we can actually take those changes and automatically ripple those down into the content management system. Now, your content is really findable. It is always tied to the information that is the one true source for the organization. That’s where we really start to see the benefits. It’s impacting how we do search. It’s impacting how people find information from that standpoint, and you know.

EricaCould you give us an example, maybe a specific use case that would use this type of new solution?
MichaelYeah. A good example is we’ve just done an asset library for a pipeline company. What we’ve done is we’ve basically said the source of the truth for how they’re maintaining information about the pipeline is all stored in their GIS system. We’ve actually taken the key from the GIS system, and we basically tag that to all of the content associated with the asset, so for this piece of a pipeline. What that enables us to do is with that key, we can always go back and get the current value, and we do this on a nightly basis, pull all of the current value and information. What happens is, the content, every piece of content associated with the pipeline always has the current information associated to the, or to the pipeline associated from the GIS.

That also gives us the availability of the GIS system to be able to spatial searches and still tie that back into all of the content that’s coming back out of the content management system. From a user perspective, we’re actually now getting to the point where we’re really talking the user’s language. I want to be able to find everything for this certain area. We can then, out of the content system, serve it up based on the type of document it is, but we’ll know everything based on the length, what type of the pipeline it is, what’s running through it, so all the properties, and we get that information free and apply it based on one value, so it makes, actually, tagging and everything easier.

Erica Sure. Those all sound like really exciting innovations that could add a lot of value.
MichaelAbsolutely.
EricaWhat kind of challenges are you facing when you try to implement these solutions? What are blockers that you’re seeing, and how do you overcome them?
Michael In part, and I’ll kind of tie this on the Record side, and part of the reason why we love RecordPoint so much is that the information that we’re dealing with, that asset, that information’s changing over time throughout the life of the asset. We want to make sure that stuff stays current, so making sure we have all the tools to keep all of that integration current and everything is there, but also, to be able to have a solution like RecordPoint that really allows us to maintain and keep that data current without all of the headaches and things that we’ve dealt with, with traditional records management solutions, so the ability to actually truly maintain the information through the life cycle and not impact the users from that standpoint. The users don’t even know they’re doing records management, which is, in the oil and gas space, about as great as you can get. That’s one of the greatest things we see.
EricaHow do you see mobile access and offline access fitting into these solutions, which could be really important if you’re working off on a site.
MichaelMobile is a critical piece for what we do. When we have people going out to do inspections or things along pipelines and things along those lines, a lot of times now, there’s a shift towards taking a mobile device out there. It may be an offline device, so you’re not going to, in the middle of nowhere, you’re not going to have, necessarily, access to a network, but we still want to be able to say you may take forms and things along those lines for inspections and do all of that information so that when you come back in, it’s all submittable. Definitely mobile interfaces is a critical piece of what we’re doing now from that standpoint, and even now, from a platform perspective, mobile for even hitting things like the portals that we developed to be able to hit the intranet and hit all of that. That’s kind of core. The offline piece is critical just because of the nature of the industry.
EricaSure. Any other parting thoughts about the future of information management in the oil and gas space?
MichaelI truly see that the combination of the content and the information, the rich information assets is really starting to evolve. As we start getting better and better data, our ability and the tools that are there for us to tie that data to the information to provide a truly unified information management platform, that is really kind of the exciting future. I mean, when you start seeing the search interfaces and the way people can find that information much more efficiently, it’s just becoming much easier, mostly because of the transitions on the data side.
EricaExcellent.
MichaelYup.
EricaWell, thank you so much for joining us here today.
MichaelThank you for having me.
EricaHave a good rest of your conference.
Michael You got it. Thank you.

 

Expert Interview Series

This video is a part of RecordPoint’s Expert Interview Series. In this series, we speak with top industry experts about topics related to compliance, governance, collaboration, and information management.

View additional videos from the RecordPoint Expert Interview Series

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