Value Proposition

The Value Proposition

Essential to the mission of every oil and gas (midstream) pipeline stakeholder is the need to share and exchange information. Despite this being an industry-wide need, each organization has borne this burden individually. Each company is left to the costly and time-consuming process of developing and defining data management best practices, policies and procedures, and standards (or suffer from a lack thereof). Each organization has had to reinvent the wheel of managing the exchange of large volumes of data associated with new construction, acquisitions, divestures, and changes in operation. The failure to innovate in these areas risk delays in access to the information needed for mission-critical business decision support.

The volume and resolution of pipeline data continues to climb. Requirements placed on operators from regulatory agencies continue to escalate. The time for change is now. The midstream industry is poised for a pivotal shift in how asset data is managed and shared in order to keep pace with market demands. The opportunities and pressures require industry-wide collaboration and innovation. Collectively, industry stakeholders are developing a set of standards that fulfill the following requirements:

• Expiate timely interchange of information among stakeholders in the asset value-chain
• Reduce costs in the development and management of industry standards
• Increase granularity of managed asset data to weld level resolution
• Streamline regulatory reporting with common shared industry reporting standards
• Design traceability, verifiability and completeness into the core standards framework
• Enhance public safety by putting timely, accurate data in the hands of those who manage public awareness
• Reduce costs and risks of not having current, accurate data readily available to support business and operational drivers