Optimization and Business Improvement Studies in Upstream Oil and Gas Industry

Book excerpt: Delves into the core and functional areas in the upstream oil and gas industry covering a wide range of operations and processes Oil and gas exploration and production (E&P) activities are costly, risky and technology-intensive. With the rise in global demand for oil and fast depletion of easy reserves, the search for oil is directed to more difficult areas – deepwater, arctic region, hostile terrains; and future production is expected to come from increasingly difficult reserves – deeper horizon, low quality crude. All these are making E&P activities even more challenging in terms of operations, technology, cost and risk. Therefore, it is necessary to use scarce resources judiciously and optimize strategies, cost and capital, and improve business performance in all spheres of E&P business. Optimization and Business Improvement Studies in Upstream Oil and Gas Industry contains eleven real-life optimization and business improvement studies that delve into the core E&P activities and functional areas covering a wide range of operations and processes. It uses various quantitative and qualitative techniques, such as Linear Programing, Queuing theory, Critical Path Analysis, Economic analysis, Best Practices Benchmark, Business Process Simplification etc. to optimize Productivity of drilling operations Controllable rig time loss Deepwater exploration strategy Rig move time and activity schedule Offshore supply vessel fleet size Supply chain management system Strategic workforce and human resource productivity Base oil price for a country Standardize consumption of materials Develop uniform safety standards for offshore installations Improve organizational efficiency through business process simplification The book will be of immense interest to practicing managers, professionals and employees at all levels/ disciplines in oil and gas industry. It will also be useful to academicians, scholars, educational institutes, energy research institutes, and consultants dealing with oil and gas. The work can be used as a practical guide to upstream professionals and students in petroleum engineering programs.