SERVICE SECTOR / NRI On-Line Inc. Signs Contract for On-Line
Seismic Data Management
NRI ON-LINE INC.
ASE SYMBOL: NDA NDA.WT
APRIL 23, 1998
NRI Signs Contract for On-Line Seismic Data Management
CALGARY, ALBERTA--NRI On-Line Inc. ("NRI") is proud to announce it
has been awarded a three year contract to electronically manage a
two terabyte multiple access block of 2D marine data.
Brett Kondruk, Executive VP & General Manager reported, "With over
five major oil & gas companies accessing this block of marine
seismic (stored at NRI), our COIN solution should save them over
$1 million in copying costs alone. It's an enormous benefit to
them. Combined with the recent verification of our ORI software,
our vision of an integrated storage solution with immediate
desktop access is now a reality."
This PAREX data is currently managed by Sigma Explorations (1978)
Ltd. who grant the entitlements for access to this on-line data.
This data set is the East Coast marine survey commonly known as
the PAREX data, and is operated by Talisman Energy Inc. on behalf
of itself and the other co-owners. Under the terms of the
contract, NRI will store and provide on-line access and
distribution of this data through its virtual data warehouse.
The benefits to NRI from this new contract are also substantial.
According to Mr. Kondruk "By using our solution, complete with
electronic entitlements access and on-line retrieval , the majors
are seeing the benefits of archiving data at NRI. We are
confident that this project will open the door to future business
with them, as this is the first 'wave' of cost savings for our oil
& gas clients."
A key factor in this selection process was the ability to support
multiple entitlements, i.e. facilitate confidential access from a
single data set to all licensees of the data. NRI's COIN solution
was specifically designed for this purpose. Once sharing
agreements have been established, NRI's proprietary software
provides highly secure access for each owner. This data can then
be delivered to their geophysicists or seismic processors via
existing network connections or physically via tape copy.
This solution pioneered by NRI is a vast improvement over
traditional tape storage in warehouses. Prior to NRI's solution,
multiple copies of the same data were maintained for each partner
to ensure confidential access, resulting in increased storage
costs. For instance, a 2 terabyte seismic data block shared by 4
partners translated into a total volume of 8 terabytes of data
being stored. A terabyte is equivalent to approximately 1,000,000
floppy disks.
NRI is a high volume virtual data storage and management company.
Through its open system solution, the Company archives, manages
and delivers integrated data on-line over wide area communications
networks. NRI's shares and warrants are traded on the Alberta
Stock Exchange under the symbols NDA and NDA.WT respectively. |
