Petroleum Africa
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Tuesday, September 24, 2013
Release
PTTEP, the National Oil Company of Thailand, has just committed to benchmark its global drilling performance against other NOC’s as well as multi-national and independent oil companies.
Helen Rushmore, Director of the Aberdeen-based Rushmore Reviews, said, “We are delighted that PTTEP are now sharing high quality data on their wells in Thailand as well as their wells in Africa, the Middle East and the Asia Pacific region.”
“They are not the only National Oil Company who are focused on improving their well construction performance through participation in the Drilling Performance Review” continued Helen. “Other NOC’s doing this include DONG of Denmark, Petrobras of Brazil, Petronas Carigali of Malaysia, PDO of Oman and Statoil of Norway.
Helen continued “We are increasingly seeing a new trend for NOC’s to look outside their own borders to find industry best practices, wherever they exist in the world. Our data analysis proves that there are major performance differences between the ‘best in class’ Operators and those within the lower quartiles. These differences add up to a huge amount of money, so it is vital for every Operator to know the size of opportunity available to them”.
“In exchange for providing their own data PTTEP will access global technical, time and cost data on thousands of wells in up to 100 countries provided by virtually all of the ‘super-majors” and large multinational oil companies, as well as many of the mid-size and smaller independents”.
“They can use this data to help them plan and budget new wells as well as provide targets and act as a driver for their performance improvement agenda” concluded Helen. “There is a great deal to learn from the “world class” Operators and benchmarking provides an avenue to that learning”.
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