Aberdeen-based technology and IT consulting firm Analysis Logic has embarked on a strategic collaborative venture to help design and develop a new multi-functional screening tool which has the potential to save oil and gas companies considerable time and money.
The company, which provides independent, neutral strategic information and communications technology (ICT) support to a range of businesses, has been appointed by international well engineering project management company Petrostars to guide development of a new software package which will improve decision-making during the full lifecycle of any geotechnical project.
The new technology will be designed for engineers by engineers with experience of conventional and unconventional exploration and production (E&P), Carbon/Hydrogen Storage and Geothermal applications.
The initial stage of the project will take around six months to develop a software package which will offer companies wide benefits, including enabling well-log and rock test data to be screened properly for drilling, geotechnics, geomechanics and operating limits while doing away with the need for complex engineering tools. Low in cost and simple to use, it will be available for use by these and other disciplines and will provide a robust audit trail.
Analysis Logic was set up in 2014 by Managing Director Scott Petrie, who has more than two decades’ business and industry experience working for a range of oil and gas companies including Halliburton and HRH Geology. The company works with companies from SMEs with little or no in-house IT knowledge to larger multi-national enterprises, with a focus on the oil and gas sector to derive greater business value by helping them to think more strategically about their IT needs.
Scott will be working with PetroStars COO Chris Ferrier and Petrophysics expert Gerold Tischler, both well known in the industry, to achieve their global E&P software solution aims.
“It’s our aim to have a tool that answers questions about the safety, performance and environmental risks of these industries with an audit trail that cannot be refuted but also allows engineers to become more effective with their technical work,” said Scott.
“There are currently several commercial applications that are dated in their approach, very expensive, inflexible and difficult to use. Practitioners in the field often use spreadsheets of their own creation, which may be technically correct but are time-consuming, prone to accidental error and undermine data management, consistency and knowledge sharing. However, there is a tendency to rely on these because of the issues with the software applications.”
“Our new software will essentially bring the functionality that geoscientists and engineers need in an accessible contemporary form at a more reasonable price point than its competitors to suit the industry. In addition, for decision making apart from financial tools there is little in the way of having a light touch system for E&P & Energy managers to audit the data independently without excessive process and repetitive work,” said PetroStars CEO Phil Bailey.
Scott, works closely with clients to help them understand their real technology needs, establish their requirements and help them create an ICT strategy which will help them be more efficient and reduce costs without sacrificing service or performance.
The company offers a suite of services, including project consulting, business analysis and bespoke software design solutions, as well as strategic growth support. It can also provide a virtual IT Director service whereby SMEs can benefit from independent strategic technical thinking and direction in a more cost-effective manner.
Scott and Phil first met in 1996, when both worked for oil field services company Halliburton, their paths crossing several times over the years as they worked for a number of different companies in Aberdeen.
“With the downturn in oil and gas, Phil and I have each been following our entrepreneurial journeys. We have reconnected in the last year and feel that there are definite synergies with our respective businesses. Phil has built a strong well-engineering and geotechnical team to offer consulting services in oil and gas, as well as a range of other industries with PetroStars SRS, while creating their exploration and production operator venture, SPX, in Scotland.”