Advanced well management solutions to increase profitability

Advanced well management solutions to increase profitability

Oil and gas sector demands a specialized approach in managing day to day operations. Extra care should be taken in terms of well life-cycle management, to increase profitability. It is important for the organizations to have a custom made multi level workflow pattern for managing its operations. When it comes to oil and gas sector, there are several divisions like downstream companies, who are responsible for the delivery of the product. However, it is the upstream companies who are responsible for the actual production of oil & natural gas. Therefore, they are also known as “wheelhouse of the oilman”, and that means they require advanced technological leverage for its operations.

Advanced well management solutions to increase profitability

Nowadays, organizations have the luxury to choose from the vast array of technology, which are aimed at optimization of “well” extraction capabilities. It is very important for the organization to choose a technology partner, who would suggest the best available technology and implement the same, within shortest possible time-frame. The technology should be able to cater anything and everything from “well”, planning to project completion or wind up. It is essential to have an increased project visibility which will breathe confidence amongst the stakeholders of the business.  It is the mandatory duty of the technology partner to understand fully, case by case requirement of the organization and understand its challenges. It is important to have a comprehensive well life cycle solution, which has to be intuitive and a web based one.

The task only gets complicated with multiple project sites, each having its own set of challenges in terms of “well extraction” capacity and logistical errors. The need of the hour is a singular solution amongst a complex well delivery environment.  An advanced well delivery model is capable of supporting the vision of the organization and provides business assurance and compliance. The system is audit ready, which means each and every operation runs like copybook. The usage of the technology should be simple enough to foster personnel competencies. Advanced well delivery solutions are intended to capture real time data and provide solutions based on past records or lesson learned. In today’s competitive environment efficiency in documentation, knowledge retention, and cost controlling is the pivotal point of success.

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It is essential for the organization to have a solution which shortens well delivery lead time and creates more project visibility. Integrated well management techniques are best suited for organizations, wishing to streamline process flow and increase end to end accountability. This technology is known for coherently performing hundreds of sub tasks and automatically populates data in the respective fields.  They have advanced well planning module, which points towards well readiness quotients. The technology is also best suited for plotting the well usage pattern of multiple sites. In this way site resource allocation and cost can be easily monitored and controlled. Any deviation from the set criteria will send alert to the field manager, who can undertake course correction measures timely. The trick is to set smart data capture points; which would generate real time data from authentic source.

With advanced well delivery solutions, it is also possible to streamline the documentation procedure, which is important for audit purpose. Workflow pattern can be segregated for various departments and simultaneously activity tracking mechanism can be established.

It is also important to track key project mile stones, so that new benchmarks can be established. Security of the system should never be compromised. Therefore, individual user id and dynamic password system are a must have for the organizations. The main aim of the technology partner is to deliver a technology which would take the form of an indexed documentation module, which is searchable with a push of a button. The system should meet organizational objectives at each stage of well construction and product extraction. Any sort of risk should be highlighted then and there, so that the same can’t spill over to other operations. Organizations should opt for such technology which provides innovative templates, which can be used to highlight time critical elements of the project. It is also important for the well delivery system to be easily integrated with organizational legacy system for zero data loss. It also enhances field asset tracking, which is crucial for optimal resource allocation.

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