Nexen Inc., the Canadian Petroleum Technology Alliance (PTAC), the Public Petroleum Data Model Association (PPDM) and e-business specialist Know2Act Corp. are in the process of developing an XML-based standard for the exchange of information relative to acquisition and divestment (A&D). The new standard will be designed to ‘maintain data integrity, facilitate easy access, and reduce operational overhead’ during the exchange of data within and between companies involved in A&D.
Around 70 turned out for the kickoff meeting held in EnCana’s offices to hear the PPDM association’s proposal for a data exchange format that will ‘satisfy the technical and business requirements of E&P companies, service companies and vendors’. The new standard will leverage existing PPDM work on XML along with the association’s data model.
Project scope will cover the information typically contained in non-confidential initial offering memorandums prepared by broker companies. A draft Project Charter is available and the association is seeking financial support and volunteer help for the project. PPDM will run the project under its 2003 Data Exchange Project. More from www.ppdm.org/development/projects/exchange/index.html.
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