In a recent survey we carried out, to be published later this month, we asked professionals involved in Hydrocarbon Accounting (HCA) how confident they were in their data. Around 65% said that they were “not at all” or only “somewhat” confident in the data they were using as input to the hydrocarbon allocation process. This situation is problematic, given that allocation is all about determining the division of ownership of hydrocarbon products, and that mistakes can have a real and substantial financial impact. Inadequate systems and processes can make it difficult to manage routine issues like mismeasurements, and initially small problems can give rise to a cascade effect with consequences that are difficult to unravel. A failure of compliance is not the least of the potential problems.Details
I made a presentation at yesterday’s conference on Developments with the Digital Oilfield in London. The title of my talk, “Why private cloud is a cul-de-sac of doom”, was somewhat tongue-in-cheek, and intended to be mildly provocative. However, I had a serious purpose, in that the words and terms we use to describe things are important in creating clarity and driving ideas. Misusing them dilutes their power and ultimately diminishes opportunities. In that context, the term “private cloud” is one that has minimal value and causes confusion.
In my talk, I referenced the NIST definition of cloud computing, and my version of the three key elements that embody the transformational impact of the cloud:
- A usage-based payment model, whether that’s per user, per cycle, per cpu, or whatever
- Rapid elasticity, or the ability to seamlessly grow and shrink your demand without needing to stop to add new hardware or software
- No barrier to exit or entry