Reducing Development Time in an IOC’s Offshore Process

Challenge

A European international oil company (IOC) was struggling to shorten their development cycle in the North Sea. 

Solution

To improve the Drilling and Completion processes to decrease the overall development timeline and to improve the speed and quality of execution. A multidisciplinary consulting team designed new field development and well-construction workflows, combining steps in the feasibility and concept stages to accelerate project development. In addition, the team introduced time-based KPIs and a continuous improvement process to reduce development time. 

Results

• Reduced handoffs: The same Drilling and Completions team was in charge of the project from Feasibility to Execution. 
• Reduced reworks: Feasibility and Concept planning for the field and the wells in the field were done simultaneously. 
• Improved lead times: Time-based KPIs highlighted both best practices and improvement opportunities, while review forums analyzed the data and drove lead-time improvements.