Tight event-enabled integration with leading oilfield applications brings predictive analytics and improved decision making process to energy production
TIBCO Software Inc. (NASDAQ: TIBX) today formally launched the TIBCO Spotfire® Extension for OpenSpirit® at the Digital Oilfields Summit 2012 in London. Spotfire® Extension for OpenSpirit® enables professionals in the energy sector to visualize, question, analyse and interpret data from any of the TIBCO OpenSpirit-enabled data store or application, such as ESRI ArcGIS™, GeoFrame®, KINGDOM™, OpenWorks®, the Public Petroleum Data Model, Petrel™ project data and Petra. Making these sources available to TIBCO Spotfire® allows professionals to reveal the relationships, patterns and trends taking place across their digital oilfields to inform strategic investment decisions and production improvements.
TIBCO Spotfire® brings the power of discovery to Big Data, a challenge that is faced by the modern digital oilfield on a daily basis. Huge volumes of data are generated from a plethora of applications and devices, such as wellhead logs and directional surveys. TIBCO Spotfire® Extension for OpenSpirit® enables the exchange of TIBCO OpenSpirit® events with other OpenSpirit® enabled applications in real-time, bringing energy companies closer to the two-second advantage™ where professionals can make better, faster decisions on hydrocarbon production optimization and gain superior recovery rates and operational efficiencies.
Speaking at the Digital Oilfields Summit, Steve Farr, Product Marketing Manager for TIBCO Spotfire®, said, “Predictive analytics is key to the future of the digital oilfield, but to make those predictions you need highly integrated systems that can handle big data, real-time information and leave no trend unexplored. Spotfire Extension for OpenSpirit® enables engineers to predict what will happen on their oilfields and respond as events occur, whether it be adjusting the performance of an individual wellhead, examining the future output of an entire field, or calculating the estimated ultimate recovery.”
TIBCO Spotfire® Extension for OpenSpirit® makes it possible to connect to geotechnical data stores that are not simple relational databases and may store data in proprietary binary files (e.g. well logs and directional surveys). Unit and coordinate conversion is automatically performed as data is imported into Spotfire®. When used in conjunction with the TIBCO OpenSpirit® Extension for ArcGIS, users can also exchange GIS data and synchronize selection/marking between ArcGIS and Spotfire bi-directionally. This allows professionals to work in a highly collaborative manner across locations, allowing them to quickly understand analysis, discuss scenarios and make informed decisions to gain competitive advantage.