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Amazon Web Services and International Business Machines (IBM) Corporation are reportedly planning to team up to manage the disparate types of data generated by oil companies by providing easy accessibility to a set of data management tools.
The technology will be shared across the oil & gas sector through an open-sourced, and will only work in cloud computing data centers.
For a while now, disparate data has created trouble for certain oil-producing nations such as Russia, Nigeria, and Saudi Arabia, which do not have access to Amazon data centers and require their data to be stored within the borders of their countries.
Amazon Web Services and IBM intend to solve this problem by utilizing OpenShift, an IBM technology that allows oil companies to use cloud data tools through privately held data centers within their respective nations.
Manish Chawla, the Global Managing Director for Energy, Resources, and Manufacturing at IBM stated that the data residency requirement for oil & gas companies is currently at 50%, which accounts for a sizable portion of the business landscape.
Meanwhile, the Vice President of Engineering at Amazon Web Services Bill Vass asserted that since renewable energy requires producers to know their output at multiple places at varying times, this technology will assist oil companies in diversifying their portfolio to non-petroleum assets such as solar and wind.
Vass further claimed that the power grid can be very challenging when looking at various ways of transmitting energy, and this set of data tools would make things simpler for oil companies since they would have all of their data from wind, solar, and transmission lines at a single location.
It is also worth mentioning that Amazon had colluded with Shell plc back in 2018 to improve operational efficiency by developing a technology that converts traditional oil data into a digitalized and standardized format for international corporations.
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