Chairman’s Message A Look to the Future

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Chairmans Message A Look to the Future. Herb Yuan POSC Board Chairman Manager SIEP IT & IM Shell International EP 2005 POSC AGM Rice University, Houston, TX. Outline. POSC Board Activities in 2005. POSC Board in 2005. David ArcherPOSC CEO Peter Bernard Jon LewisLandmark - PowerPoint PPT Presentation

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<ul><li><p>OutlinePOSC Board Activities in 2005</p></li><li><p>POSC Board in 2005David ArcherPOSC CEOPeter Bernard Jon LewisLandmarkPeter BreunigChevronSteve ComstockExxonMobilTom HalboutyPioneerStewart RobinsonUK DTI Vice ChairmanYogesh Sinha D.K. PandeONGCIhab TomaSchlumbergerMorag Watson BPEldad WeissParadigmHerb YuanShell - Chairman</p></li><li><p>2005 Board ActivitiesBoard Priorities for POSCHarness WITSML momentum and visibilityImprove standards usabilityProduction Data Exchange Standards time to get it moving againEnsure POSC relevance to member and business needsGlobalizationJan board meeting in India with 7 board members attendingPOSC Asia initiated with SatyamStrategic OutlookGartner report out on: Case for Standards in the Oil Industry</p></li><li><p>2005 POSC Scorecard</p></li><li><p>Why POSC? View of a MajorAccelerate development and application of data standards for next generation EP companyImprove data exchange by allowing internal standards to be adopted as industry standards and gain learning therefromShare and align priorities on standards across industryEase regulatory compliance by maximizing alignment of regulatory standards and industry standardsUtilize POSC as a means of collaboration Co-create standards with vendor community to improve integration possibilities</p></li><li><p>Why POSC? View of an IndependentHave an impact on what vendors design just like the majorsImprove data standards Well Curve naming standards is an exampleKnow upcoming technologies and what larger companies are considering; sometimes they are your partners Impact standards while working with vendors and industry people so that needed tools are developed to support the new technologyAccelerate application and data standards</p></li><li><p>POSC RelationshipsPOSCMajorsIndependentsService OrganizationRegulatoryValue Easy, reliable, timely regulatory compliance More timely dataRegulatory Inputs Requirements for data transfer to regulatory agencyPOSC Outputs XML - electronic transfer ability tied to vendor apps</p><p>Value Ability to impact standards used by service orgs Simplified data exchange Accelerate application of standardsIndependent Inputs Knowledge, testingPOSC Outputs Usable standardsValue Software assists in maintaining the standardsService Organization Inputs Current conventions and methodsPOSC Outputs Maintain the good but use more current technologyValue Easier data exchangeMajor Inputs Knowledge worker process Broader testingPOSC Outputs Something for the entire industry</p><p>Shell Exploration &amp; Production</p></li><li><p>2005 Board ActivitiesExploring synergy with other standards bodiesPOSC Caesar, Rescue, . . .PIDX PPDM POSC board to board discussions heldThe POSC Board believes that a radical change in approach to developing and implementing upstream oil and gas industry standards is required and this is best achieved by a new single-point organization, encompassing current and future workflow activities and areas covered by PIDX, POSC, and PPDM. This new body should incorporate an industry strategic approach thatcan identify the need and value of standards in specific areas, their integration, and quickly deliver, maintain and support them. </p></li><li><p>Synergies with Industry Standards BodiesDiscussions showed opportunity for synergyBoards and executives have endorsed exploring synergy steps that could lead to a single upstream standards bodyPIDX Executive Committee - agreement Oct 25Discussions ongoing with PPDM</p></li><li><p>Questions put to and answered by the Boards of POSC, PIDX and PPDM1. What is the .. BOD response to the formation of a standards governing body?2. What functions and authorities does the .. BOD grant the standards governing body?3. What constituent organizations does the .. BOD recommend the standards governing body to include?4. Who does the .. BOD recommend sit on the standards governing body?5. What priority projects or domains does the .. BOD recommend to start off with?6. What is the .. BOD input into governance evolution ? 7. What are the .. BOD steers on the operating model ?8. Any other items to be considered ?</p></li><li><p>7. What are the BOD steers on the operating model?</p><p>POSCPPDMPIDXSIG drivenMembership fees to manage base activities such as standards maintenanceAlign membership fees so that convergence of organizations is clearRecognize the need for the steering of specific SIGs and the key constituentsWill be determined through evolution of the governance council design.Value,efficiencyspeed of developmentinteroperabilityadoption and implementation</p></li><li><p>2005 Board ActivitiesImprove standards deliveryMore standards are needed for EP businessImprove standards delivery to meet member goalsIncrease focus on SIGs; more project-basedlower membership fees; higher SIG feesNew fee structure designed to increase POSC attractiveness for new members.</p><p>Management changessearch initiated for new POSC CEOboard agreed that CTO to be interim CEO after December 1.</p></li><li><p>Wrap-upPOSC is changing to meet the needs of industry.</p><p>The POSC board wants and expects more from POSC</p><p>Your participation is critical:in SIGsensure you let a board member know your views</p><p>The industry is committed to make POSC work</p></li></ul>