Abstract
This Energy Insights report presents the role of the Production XML (PRODML)
standard in enhancing the exploration and production (E&P) industry' s
production data exchange and reporting mechanisms. We describe the current
industry dynamics related to the adoption of PRODML and how PRODML will be
applied to production and well test reporting. The report explains why the
PRODML standard has a very pragmatic approach and draws analogies to the
geological and geophysical (G&G) and drilling disciplines. We analyze the
future impact on the industry and provide recommendations and guidance for
business and IT executives.
PRODML is an important initiative focused on helping producers independently
optimize their oil and gas production by improving data exchange and work
process efficiency. "Moving forward, compliance with PRODML standards will
feature as an important criterion in all RFPs. A vendor not showing an
understanding of the standard will be adversely impacted during the vendor
selection phase." - Jill Feblowitz, program director, Energy Wholesale
Strategies
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