How Integrated Well Delivery Solution can provide enormous value proposition

Oil and Gas is a very challenging sector, which needs specialized management methods and tools.  It is important for the management to acquire skilled manpower and back them up with proper technology cushion. For the most part, the success of the oil and gas sector depends on the efficiency of Well lifecycle management. Better the management of the “wells” better is the profit extraction, after mitigation of risk. Organizations are in the desperate lookout for an integrated solution, which would cater anything and everything, from well planning to project completion.  Oil companies need a tool, which increases project visibility and inspires confidence.

It is really important for the organization to choose, a technology partner, who understands fully, the operational challenges and statutory obligations of the industry. The need of the hour is a comprehensive solution, which has a specialized module to support Well Lifecycle. Advanced technologies today, addresses and tracks every project activities along with its data management needs. The solution has to be an intuitive and web-based one, which could handle the specific needs of the Oil and Gas industry.  However, it is easier said than done, when dealing with multiple project sites and wells, each has several critical project phases. The need of the hour is a technology, which shortens well delivery lead time, with enhanced project insights. Integrated Well delivery solutions, can generate value by making all the project process flow, streamline, and increase in end-to-end accountability.

An integrated well delivery solution is responsible for addressing hundreds of subtasks and automatically populates several data fields, by capturing authentic field data.  Advanced well delivery solutions are known for its integrated planning capability, which helps to gain visibility of each and every “well” unit. It provides complete resource allocation management for each “well” and tracks the usage pattern of the same. Any deviation in the usage pattern generates alerts to the good managers, who can initiate course correction activities on time. An advanced integrated Well Delivery system is known for its “Well” selection capabilities, with enhanced “Well” configuration features to capture every technical attribute. The data selected should be from smart capture points, which should point towards well readiness quotient.

It is very essential to have an effective documentation review and approval procedure, along with automated workflows. These workflows can be segregated according to different departments, regions, etc., for better project activity tracking. It is essential to have smartly designed alerts and notifications, which would signal any deviation from the authorized procedure. Such an integrated well delivery system increases audit ability and establishes consistency in underpinning compliances. All these will bolster personnel competence and increase the productivity of the organization as a whole. It is very essential to have a technology, which can capture lesson learned from a project and churn out the corrective action of the same. In modern-day offshore oil and gas operations, efficiency, and effectiveness are two words which are synonymous with profit. Therefore, it is of utmost importance, to establish control over project documentation and increase knowledge retention activities.

To create commercial gains, the managers need to be proactive from start to finish and work with a proven methodology, which assures compliance with the regulatory framework. It is important to have a technology, which integrates other organizational systems like AFE software (AUTHORIZATION FOR EXPENDITURE), to gain extensive knowledge of the finance and accounting landscape of the organization. It is imperative to capture, drilling status, and measure project is driven supply chain functions, along with its material management needs. The main rationale behind Integrated Well Management solution is to create pivotal for sustainable project environment, which is sure to deliver cost efficiency and global repository of knowledge, which exponentially grown with every project. It is essential to have a fully customizable system, which helps in the integration of existing legacy systems. Integrated Well delivery solutions are known for its confidence-boosting of management, in establishing technical integrity and managing high-value field assets, with atomic-level detail. It is basically an advanced system, which is holistic, searchable, and indexable documentation module, where every bit of information can be retrieved at the press of a button. Therefore, it goes without saying that, advanced well delivery solutions facilitate effective decision making and fuels continuous process improvement.

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Created on Jun 4th 2018 02:10. Viewed 533 times.

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