Leading e-commerce company Amazon Inc. (AMZN) and computer hardware company international Business Machines Corp. (IBM) have entered into a partnership which will help companies in the oil sector have an extended reach to a set of tools which the companies use to manage disparate types of data.
This partnership will be suing IBM’s technology dubbed OpenShift in which oil companies will be using oil industry cloud data tools from their privately owned data centers in within respective countries.
“The data residency requirement is virtually 50% of the oil producing world today. This is a pretty significant part of the market,” said IBM’s global managing director for energy, resources and manufacturing, Manish Chawla.
Back in 2018, Amazon partnered with Royal Dutch Shell to come up with a technology to turn data from over a century of oil production which is mostly kept on paper records, transforming it to a standardized format which oil companies can use to boost efficiency in their operations.
The technology developed is being shared across the wide oil industry as an open-source basis and it only works in cloud computing data centers. Amazon Web Services vice president of engineering, Bill Vass says expanding the of data tools will assist oil companies in adding non-petroleum assets like solar and wind to their portfolios.
“As they transition to energy companies, it makes it easier for them, because they have all their wind data and their solar data, transmission line data, all this in there as well. You’d really don’t have a concept of how complicated the energy grid actually is until you start looking at all these different ways of transmitting energy,” said Vass.