The petroleum industry has reached a point where significant breakthroughs in future computer-related productivity gains are constrained by currently implemented computer systems and applications software. This paper discusses in detail the problems associated with these existing petroleum software systems, leading to specifications for enhancements and the relevant industry standards required to solve those problems. In addition, the pros and cons of a "multi-company consortium" will be weighed as the most cost-effective means of developing a true petroleum industry standard for technical computing.

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