The Subsurface Factory – Better, Faster Hydrocarbon Development Through Collaboration
Tuesday July 19, 2016
The oil and gas industry has always had to adapt to changing market conditions through supply change improvements, to the point of beckoning a factory style approach to resource play development. There is a clear correlation between adaptation or innovation and success in growing revenues across any industry.
Optimizing oil field development is planning for the long term while making/saving money in the short term and innovations such as multi-stage fracking, injection methods, horizontal well drilling, and pad drilling support those efforts.
The whole concept as it relates to the oil and gas industry has its challenges, but you can go a long way until you have to figure out how to handle the geologic (raw material supply) risk and optimizing the engineering to exploit the potential raw environment.
To start, let’s compare with a classic factory model standard. From Industry Week this interesting article highlights the top 5 factors optimizing complex manufacturing operations.
- Take advantage of revenue opportunities
- Tuning up operation and processes optimization
- Utilize ERP across the enterprise
- Finding harmony among diverse applications
- Coming to grips with complexity
In a nutshell, metrics driven and collaborative planning support harmony across diverse applications and information flow in order to build insightful critical business decisions. Dealing with change such as market shifts, supply chain interruption, regulatory changes, and competition are ingredients to a successful operation.
Sound familiar?
As a business, and particularly in the oil and gas business, taking advantage of revenue opportunities, and tuning operations and processes, can be accomplished through decision support tools. ERP is defined as an integrated view of core business...