Cost Optimization For Onshore Processes

 

Most of the oil and gas companies are struggling hard with declined prices in the global market. This raises a question for cost recovery solutions at a major level to help onshore processes yield the perfect outcome with reduced costs. Drilling costs are one of the major cost components which need to be focused on to attain cost optimization in rigs. This post will offer enough insights about some methodologies which can help companies to maintain a good balance in their production level with optimum use of their onshore assets.

Comparative Drilling Optimization

Drilling operations require a huge amount of time and money to be invested in them. There are some costs that depend on time hence, reducing the drilling time by increasing penetration rate. Using a comparative optimization method, the records of previously drilled well can be used effectively to figure out penetration rate and cost per foot for the wells to be drilled. Using numerical equations to model the penetration rate, bit wear rate and hydraulics can be used to minimize the drilling costs of existing wells.

Hydraulic Optimization

Mud and hydraulics are the two major components of optimization of drilling operations. The weight rotational speed program can be effectively implemented with the help of these factors. Optimizing the bit hydraulics requires maintaining constant parasitic pressure loss and holding the pump pressure to its maximum. It is an effective measure to optimize hydraulic horsepower and select efficient hydraulic parameters in-depth interval of a well. 

ADNOC Gas Processing

AGP plays a crucial role in the value chain by contributing significantly to managing an integrated pipeline network for uninterrupted supply to its customers. Getting commercial assurance, the companies can manage most of the technical activities which are based on DGSs, update the plan, and potential cost realization which are the main drivers for enhancing the performance without compromising HSE.  Revisiting technical specifications in the light of high efficiency with low cost can be effectively adopted across various companies that are looking forward in this regard.

Improving Baseline Production

To identify potential opportunities, companies will have to focus on wells opportunity identification for better and improved baseline production. Identifying the healthy wells with stable flow rates can help them in a great sense in reviewing preventive maintenance schedules. Real-time monitoring of critical assets to detect anomalies well in advance and plan their operations accordingly. Moreover, contract strategy services can also help companies to share risks and rewards with their suppliers.