3.2 The Business Case
|For Standard||PRODML v2.0|
Some of the challenges of reporting production data to other relevant entities are:
- Lack of a standard (protocol, format and mechanism).
- Associated requirement for a significant amount of manual effort both in creating data to be transmitted, and receiving/consuming it.
- NOJV partners are increasingly requesting more detailed data (daily and monthly), resulting in a significantly increased quantity of data to be transmitted.
- Timelier reporting needed to support decision making (e.g., marketing, participation in projects) and internal reporting (accruals, etc.).
Therefore the benefits expected are:
- Streamlined approach to communicating production related data.
- Less manual effort and thus reduced cost.
- Greater accuracy (due to less manual intervention/preparation).
- Greater insight into the status of properties operated by others (OBO) supporting more informed decision making.
- Quicker access to data from joint venture partners.