HOUSTON, Nov. 17, 2020 /PRNewswire/ -- Energistics Consortium Inc. announced today that it will be reducing its 2021 membership fees by 30% in celebration of its 30th anniversary.
The Energistics Consortium was founded in 1990 by 5 super-major sponsor companies, under the name Petrotechnical Open Software Corporation. The mission was to develop, support and promote open standards for upstream data. Over the ensuing years many more operators, service and technology companies were added to the membership, and in 2006 the name of the consortium changed to Energistics. The consortium currently counts over 115 members from 5 continents, including operators, oilfield service companies, technology providers, system integrators and government regulators. Experts from member companies contribute their knowledge to help develop, enhance and improve the standards. In addition to data schemas for drilling and wells, plus subsurface, reservoir modeling and production monitoring, Energistics provides standards for data transfer and data packaging that are specific to oil & gas operations. The standards are truly developed by the industry for the industry.
As a result of the combined impacts of Covid-19 and the oil price collapse, the upstream industry is experiencing a period of unprecedented financial challenges, with a high priority placed on deriving efficiencies through digital transformation while exercising a greater control on costs and return-on-capital. Recognizing the budget pressures in the industry, Energistics has taken the action to lower its 2021 annual fees. This initiative, named "30-for-30", demonstrates the consortium's ongoing commitment to the upstream sector, and the support it has provided to the industry over the last 30 years.
"The primary goal of our consortium is to ensure that business-critical data standards developed over many years by a large and diverse group of experts continue to thrive and evolve," said Ross Philo, president and CEO of Energistics. "The challenges that the industry is currently facing require a concerted effort by all actors to adapt to new realities, and Energistics is contributing to this transition with the 30-for-30 initiative."
More information on the consortium's 30 year anniversary and rich history can be found at https://energistics.org/energistics-30-year-anniversary/
Energistics is the leading upstream oil and gas industry's data standards body. We are a global, non-profit consortium established 30 years ago to bring together industry professionals in a neutral and collaborative environment to develop and deploy open data exchange standards and to address oil and gas information sharing challenges. Our members consist of integrated, independent and national oil companies, oilfield service companies, hardware and software vendors, system integrators, regulatory agencies and the global standards user community.
For more information, visit our website at www.energistics.org.