HOUSTON, TEXAS – OFS Portal has announced the milestone of over 600 Energy Industry Partners signing an OFS Portal Electronic Data (EDA) or Interoperability Agreement (IOA). This includes over 550 Operators transacting across 45+ cloud e-commerce platforms. Operators in the OFS Portal community include supermajors, NOCs and IOCs. Implementing an EDA provides operators all the benefit from more efficient implementation of digital transactions with OFS Portal Members, including confidentiality and reliability, and preservation of data ownership.
Supply chain digital integration continues to be a priority for most operators but emissions reporting is gaining ground. EDAs and IOAs define data use for more than just transactions, and while emissions reports are not part of the transaction, it is data that is shared between Suppliers and Operators and can be used to augment the processes in the supply chain. OFS Portal is developing a reporting system that supports both top down and bottoms up emissions reporting.
OFS Portal CEO, Chris Welsh, states, “All OFS Portal Operator and Network Agreements cover data stewardship with relation to transactions as well as data content. This permits the exchange of Scope 3 Emissions Data between OFS Portal Members and their customers to be covered under the content specification, a network of over 600 ready-made agreements to facilitate the exchange of emissions reporting across the Oil & Gas Industry.”
The OFS Portal Community has been working with global standards and industry organizations for over two decades. All the while encouraging reduced costs through promoting open industry transactional data standards and the use of cost-effective business processes.
OFS Portal is a member-based group of industry-leading upstream oil and gas suppliers. We have implemented a standard way for Oil & Gas Suppliers and Operators to digitally transact; our secure, trusted and collaborative environment results in efficiencies for both service providers and operators. OFS Portal’s current members include: Baker Hughes, Halliburton, SLB, Weatherford International, Select Energy Services, and Wellbore Integrity Solutions. Membership to OFS Portal is open to any supplier operating in the oil and gas industry. For more information, please visit www.ofs-portal.com.