How Ready Is Your Project for Delivering Production?

Source: Getty Images.

In recent years, projects in upstream oil and gas have become more complex, remotely located, and, therefore, costly and difficult to deliver. Research shows that one of the key performance indicators—attainment of production as per the basis of design—is not achieved without significant further investment and significant delay (Merrow 2011). The findings are an industrywide phenomenon. Oil and gas companies have started to think about how to reduce the risk of costly remedial actions to meet original production targets.

There are principally two activities that companies employ to optimize internal processes for better outcomes: (1) strengthening project assurance activities and (2) planning ahead for long-term operations. Recent experience in coal seam gas (CSG) to liquefied natural gas (LNG) projects on the east coast of Australia further enforces these principles.

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How Ready Is Your Project for Delivering Production?

Kai C. Eberspaecher, SPE, Advisian, and Jamie W. Gabb, BG Group

01 May 2015

Volume: 67 | Issue: 5

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