As promised earlier this month we are re-visting the topic of solutions provided by Aquima for petroleum companies. We discussed many of the problems that petroleum companies faced and their solutions, today we are going to take a different approach where instead of providing solutions for existing problems we are going to look at the innovation aspect of Aquima.
One of the most innovative and useful tools offered by the Aquima system for the petroleum industry is the oil search engine. This is truly an amazing feature, with the ability to predict oil rigs with a very high level of accuracy. The process is a very simple one, data is collected from all previous successful (and unsuccessful) oil searches and through the powerful AI (artificial intelligence) of Aquima a number of highly plausible oil fields locations are drawn up.
The high level of accuracy associated with the application can instantly reduce the cost connected with the initial stage of searching for oil. While the application does not claim that major saving will be made in the testing phase, the savings are made in the initial stages where most companies would rely on costly methods of searching for oil from geologists. Using of powerful computers and data based on endless research a where the smallest mistake would lead to millions of dollars being wasted.
Many companies suffer more than the cost of the investment when drilling into an empty well, it is often that the after effects that are far greater and more costly. The damage to company reputation would certainly lead to share price deflation, hindering the business's ability to secure new investors and keep existing ones. As seen recently a British based company's share price fell by 60% overnight after discovering that a promising oil well was empty.
While the oil search engine application does not save costs after the intial stage there are many tools in the Aquima BPM system that do, these will be discussed in greater detail in the coming weeks.
Guest post for January 11th 2011
All information presented here is © copyright Carkean Solutions Ltd., 2010 - Not to be used without our permission - The views expressed here are the views of an individual not the corporation
Showing posts with label Petroleum. Show all posts
Showing posts with label Petroleum. Show all posts
Tuesday, 11 January 2011
Wednesday, 5 January 2011
Aquima: Solutions for Petroleum.
Petroleum companies are often multinational organisations sharing similar resources; this can include data, staff and even assets. The problem is that many companies do not use the same IT system, thereby data transfer is difficult and time consuming.
There are many reasons for the lack of integration between different branches of an oil company trading in different countries.
Many IT systems are made specifically for a branch operating in a specific country, as most of the software is tailored to their needs and requirements.
Which may not apply to other branches of the company, as most software used relies on heavy coding it is not possible to create a system that would meet the needs of the different branches, making effective and flexible data sharing virtually impossible.
Another problem faced by companies trading in different countries is that data is collected in several languages and would need to be translated before it is useful, which limits the speed of which a company can react to change in the market or government rules and legislation. Thereby having a negative effect on profits and company image.
The Aquima BPM system is equipped with the tools necessary to solve all of the above problems and more. Aquima software is able to run in any language providing the continuity and integration that is required. One of the main advantages of Aquima is that it is platform independent enabling the business to collect data from any source possible.
Aquima's instant translation tool is a feature that is very desirable for all multinational companies, as it allows communication and data transfer between two or more people with no common language to be realised in real time saving the cost of hiring translators and the time it takes for the translation to take place.
The Aquima systems has many more features that are of great benefit to companies operating in the petroleum industry that would be discussed in detail at a later time.
Guest post for 4th January 2011
All information presented here is © copyright Carkean Solutions Ltd., 2010 - Not to be used without our permission - The views expressed here are the views of an individual not the corporation
There are many reasons for the lack of integration between different branches of an oil company trading in different countries.
Many IT systems are made specifically for a branch operating in a specific country, as most of the software is tailored to their needs and requirements.
Which may not apply to other branches of the company, as most software used relies on heavy coding it is not possible to create a system that would meet the needs of the different branches, making effective and flexible data sharing virtually impossible.
Another problem faced by companies trading in different countries is that data is collected in several languages and would need to be translated before it is useful, which limits the speed of which a company can react to change in the market or government rules and legislation. Thereby having a negative effect on profits and company image.
The Aquima BPM system is equipped with the tools necessary to solve all of the above problems and more. Aquima software is able to run in any language providing the continuity and integration that is required. One of the main advantages of Aquima is that it is platform independent enabling the business to collect data from any source possible.
Aquima's instant translation tool is a feature that is very desirable for all multinational companies, as it allows communication and data transfer between two or more people with no common language to be realised in real time saving the cost of hiring translators and the time it takes for the translation to take place.
The Aquima systems has many more features that are of great benefit to companies operating in the petroleum industry that would be discussed in detail at a later time.
Guest post for 4th January 2011
All information presented here is © copyright Carkean Solutions Ltd., 2010 - Not to be used without our permission - The views expressed here are the views of an individual not the corporation
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