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Oil and gas operators continue to address data vulnerabilities with OFS Portal

Friday, November 30, 2018

OFS Portal announced that its number of signed Electronic Data Agreements (EDA) and Interoperability Agreements (IOA) now exceed 400.

The growth in the OFS Portal community can be attributed to the growing number of digital deployments by Operators.

'Digitalization is the driving force behind the growth in number of Operators signing the EDAs,' said Chris Welsh, OFS Portal CEO. 'As more oil and gas Operators and Suppliers implement their digital strategies, there is more focus on data security, ownership and governance.'

The industry's drive for a more digital end-to-end process is high on the agenda for all Operators. As the industry moves to a more digital environment, vulnerabilities around data security and ownership surface. The OFS Portal agreements provide the legal coverage Operators and Suppliers need to avoid these data security and ownership vulnerabilities.

Per OFS Portal Members' requests, Operators who sign the EDA (including major IOCs and NOCs) benefit from the preservation of data ownership, confidentiality and reliability of transactions between themselves and OFS Portal Members.

OFS Portal currently has agreements in place with 362 Operators and 40 Networks, and anticipates more to come between now and the end of the year.



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