Experts explore role of digital technologies in oil and gas business optimization

Invensys Process Systems joined BP, Chevron, and Shell in a presentation and panel discussion on PRODML, PRODuction xML, a new open standard for digital technology for production optimization in the oil and gas industry. This presentation was part of the two-day conference “Digital Energy 2006: Bytes and Barrels, Applying Digital DNA to Meet the Business Performance Challenge”, sponsored by the Society of Petroleum Engineers (SPE).

In a panel discussion, Stan DeVries, Director of Upstream Solutions at Invensys Process Systems described the consequences of not having a digital technology standard for production optimization and the benefits of PRODML from a vendor’s perspective. SPE organized the conference to help oil and gas industry personnel understand digital applications in business performance improvement and to open discussion on the possibilities for the future. Panel discussions addressed current enabling technology, the business benefits and changes for operators and vendors, and future challenges.

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