Much of the upstream world is under water at current prices. In the current low oil price environment many oil companies have cut CAPEX and OPEX budgets significantly. Upstream producers are very focused on lowering costs and optimizing existing assets at lower throughput/flow rates.
Given the scale of production which is uneconomic at current and forecast oil prices, all producers need to digitalize deeper and faster to boost their resilience and competitiveness. New approaches are needed to drive out costs from the drilling, completion, as well as production operations phases of assets.
This whitepaper looks at:
- The importance of systematic, data-driven approaches for ongoing tracking and reporting of Key Performance Indicators (KPI's) against targets
- The role data plays at each stage of the digital roadmap
- Four case studies:
- Enhancing operations performance across eight Regional US locations
- Leveraging common data platform for produced water management
- A culture of continuous improvement in gas plant production optimization
- Driving a step change in drilling activities
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