This week we launched Petryx Ltd, a new company with a new vision for digital services for the Oil & Gas industry. This blog post is my introduction to the company and an opportunity for me to articulate what we are doing. It will be followed in the coming days by blog posts from my fellow directors Laura Fielding and Sam Fielding who will be giving their perspectives on what we have to offer the geoscience domain.
After a challenging few years, many Oil & Gas companies are emerging from the downturn as smaller, more responsive organisations. Whereas before a team of dozens or hundreds of explorers would have worked up prospects across the globe; now just a few skilled geoscientists must assess where opportunities lie, and work to understand the subsurface. Whilst all of this has been happening, products offered by the service industry have moved ever closer to long-term subscription models. These streamlined enterprises face many challenges, and we at Petryx are here to meet them.
In order to do the job of exploration, operators therefore have to work differently, and whilst much of this change in pace and tactics must come from within, we believe that it is the role of service companies to reflect the new face of geoscience exploration in the solutions we deliver. A trend for episodic projects have taken precedent over multi-year programmes, and now more than ever our clients must answer their technical challenges in less time. As a company, Petryx offers a portfolio of innovative new data solutions and services, which, quite simply, help our clients to get to the answers they need faster.
In a few days’ time Geoscience Director at Petryx Laura Fielding will be discussing how multidisciplinary datasets are invaluable in cracking subsurface puzzles, and this is exactly what we will be helping our clients to do with our first commercial offering. We are designing a single, connected, multidisciplinary database of geoscience data, the Petryx Database. Hosted in the cloud, this database may be mirrored by our clients directly into their private data clouds, so they can leverage the data themselves; or, if they prefer, accessed through a built-for-purpose web application which allows the data to be queried and interpreted on the fly. Our clients will be able to cross-examine their own data directly against the Petryx Database, using the web application as an interpretative tool, or upload newly acquired datasets directly into their own instance of the database.
Perhaps most importantly, the web applications and interpretative tools offered with the Petryx Database are free, and the data in our database is offered as a one-off purchase rather than on a subscription basis; so that our clients have more control and are better able to manage their budgets, focusing resources on the areas which count. We understand the needs of our clients and believe that the tools we offer and the infrastructure for serving Petryx data is our responsibility, just like a restaurant is responsible for paying the rent and providing diners with a knife and fork. As long as our customers keep buying meals, we’ll keep our side of the bargain and keep the lights on.
By Lorin Davies, Managing Director