Industry Trends/Issues Sample Clauses

Industry Trends/Issues. Cost per unit of oil produced from fields in the tail production phase is rising. Spending must be cut to avoid early shutdowns with the attendant loss of valuable resources. The idea is to reduce offshore staffing. All administration activities will be moved ashore, but all jobs which physically need to be done offshore will remain there. Specialist will work on land, so that they can share their expertise between several developments and spend less time on travel – in other words, become more effective. • E-operation requires new cooperation solutions, but the way these are implemented varies from company to company. They must identify for themselves what is to be their main business and what they can leave to others. E-operations mean a closer partnership between operator and contractor. The two sides collaborate in joint operations center or virtual space where they share information in real time. Some of the most important challenges for the petroleum industry in adopting e-operations are: o Willingness and ability to adopt o Mutual trust and understanding o Management commitment o Technological support When various disciplines need to work together to optimize oil and gas recovery from a field, a shared understanding of the issues will be important. • Integrated operations (IO) entail a new operations practice on the NCS. IO can help in managing activities regardless of geographical distance, e.g. between offshore and land. IO requires assistance from other sectors including the ICT sector. Operator can make better and faster decisions by using ICT solutions. These ICT solutions use real time data to integrate work processes across disciplines and between organizations. In 2003, OLF (the Norwegian Oil Industry Association) designated a working team to conduct study on IO. This team came up with following potential benefits from IO: o As much as 8-10 percent increase in production o Up to 4-5 percentage point increase in recovery rate o Up to 30 percent reduction in operating costs compared to today’s level. • Many sources of oil do not require new exploration. Rather, what is needed to improve technology to get it. By the time field is abandoned, only one third of the oil in place may have been produced, leaving two third behind. New computer-based technologies are now making it possible for the oil industry to get more out of the remaining. It is estimated that about 125 billion barrels of additional oil can be made available from existing fields ar...
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