Fremont, CA (Vocus) September 9, 2009 -–
Space-Time Insight today announced the release of a new geospatial composite solution for the oil and gas industry. The solution is purpose-built to help oil and gas executives and operations teams get every drop of value from each asset, as well as improve leak monitoring, conduct proactive pipeline maintenance and do proactive crisis mitigation.
Oil & gas companies have mobile and stationary assets distributed across thousands of square miles –with data on every aspect of their business growing by the hour. Composite applications from Space-Time Insight leverage oil and gas companies’ prior investments in technology to deliver real-time, comprehensive situational awareness all on one screen - and the ability to take action from the same screen. This helps oil and gas companies realize their vision of managing operations in real-time and on-demand. Oil and gas companies that do manage their operations in real-time and on demand can dramatically increase field productivity, decrease operating costs, and increase average production rates.
Space-Time Insight CEO, Mark L. Feldman, PhD, predicts, “Using geospatial composites from Space-Time Insight, oil and gas companies will be able to realize the same dramatic benefits our customers in other industries have already experienced: improved asset performance, reduced costs, decreased downtime, increased profit margins and the ability to prevent crises from turning into catastrophes.”
The Space-Time Insight solution for the oil and gas industry is available now and includes the Space-Time Asset Composite and Space-Time Crisis Composite, tailored for the oil & gas industry. For more information on the solution, visit the Resources section on http://www.spacetimeinsight.com.
Space-Time Insight composite applications for the oil and gas industry automatically integrate features and data from geographic information systems (GIS), real-time weather, environmental and equipment sensor data feeds, and data from enterprise systems for asset management (EAM), production forecasting, field engineer scheduling and dispatch, cost analysis, environmental, health, and safety (EHS), and compliance, and inventory systems. Composite features include visual environmental impact indexing and features enabling condition-based and proactive maintenance. Benefits include the ability to minimize downtime, prevent or proactively mitigate leaks and spills, and increase production rates through improved asset performance.
Additional information on Space-Time Insight’s solution for the oil and gas industry is available in the Resources section at Space- Time Insight's home page. SAP customers can view more information about Space-Time Insight at https://www.sdn.sap.com/irj/ecohub/solutions/STAS.
About Space-Time Insight:
Space-Time Insight products deliver intuitive, geospatial-temporal visualizations, contextual real-time analytics, condition-based alerts, remedial action schemes,and workflow links that enable accelerated, geo-aware responses – from a single screen. The Space-Time Awareness Suite aggregates and correlates data and functionality from multiple sources including streaming data from environmental and equipment sensors and real-time weather feeds, as well as data from enterprise systems. Visual analytics are displayed on satellite images to deliver full context, actionable information with links to background work processes for timely action, audit trails and regulatory compliance. Space-Time Insight products additionally provide simulation capabilities for what-if scenarios and full-context historical playback for audit, forensics, problem-solving and planning. Space-Time Insight software was designed primarily for customers in the energy utilities (transmission, distribution, and generation), water and natural gas utilities, railroad, chemicals, and oil & gas industries. Space-Time Insight is headquartered in Fremont, California and has sales offices throughout the United States. The company has regional headquarters in Hong Kong and India and a sales office in South Korea. For more information, visit http://www.spacetimeinsight.com.
Margot Siek, Director of Marketing