In these unprecedented times, exploration and development businesses are facing a multitude of simultaneous challenges – maintaining profitability in a low oil price environment, further reduction in budgets and at the same time, adjusting to significant changes to the way we work. All this while continuing to deliver wells that are operationally safe, and energy efficient with minimum environmental footprint.
A significant part of any well delivery budget is taken up by well construction costs. Throughout the well planning and delivery process multidisciplinary teams are tasked with finding solutions to meet these challenges. As geoscientists and engineers, we can influence how we apply processes, utilise available resources, as well as the use of technologies to minimise well construction cost and maximise value.
This workshop will bring together specialists from across the disciplines from IOCs, NOCs and service providers as well as academic and independent researchers involved in early well planning through to delivery to identify key factors that play a role delivering wells in a safe, timely and cost effective manner:
- Processes: What processes do we have & where are the pitfalls in our existing processes? How do we make the construction process more consistent in outcome, so that the actual cost, time and quality of the final well more closely meets the planned cost, time and quality of the well?
- Technology: What innovative application of existing and new technology can we implement?
- Alliances: What alternative models will enable access to experience and skills required to deliver wells? How do we ensure that all construction stakeholders share in the success and failure of a project?
- Data Governance: Machine learning/data analytics depend on good data governance and management practices. As an industry we use 80% of our time finding data and 20% using the data. What data management tools are available to reduce wasted time?
- People Factors: As an industry we still operate in silos. What actions can we take to break down the barriers to draw on the wealth of experience and skills that will improve interdisciplinary interaction and understanding?
- Success factors: Historically, engineers bear the brunt of the burden in well cost while geoscientists are measured on success of discovered resources. Are there alternative KPIs that will enhance cross-disciplinary collaboration and provide better measures of success?
The format of the workshop is designed to deliver at least 5 key actions/takeaways through an interactive and integrated learning and sharing environment, with opportunities to network through a blend of keynote speakers, panel discussions, technical presentations, posters, plenary discussion, and breakout sessions.