International Business Machines Corp and Amazon.com Inc's Amazon Web Services said on Monday they would work together to extend the reach of a set of tools that oil companies use to manage disparate types of data.
The technology is being shared industry-wide on an open-source basis, and only works in cloud computing data centers. Some oil producing countries such as Nigeria, Saudi Arabia and Russia have no Amazon data centers but require companies to store their data within the country's borders. "The data residency requirement is virtually 50per cent of the oil producing world today," said Manish Chawla, global managing director for energy, resources and manufacturing at IBM, in an interview."This is a pretty significant part of the market."