Asset Optimization Metrics Card – A Unique Approach to Maximizing Production Efficiency

Abstract

In this era of flourishing E&P activities it is imperative to provide stake holders from operations to management with latest and reliable information quickly. Information integrated from multiple sources, when automated and presented creatively reduces unproductive time for the decision makers for making correct informed decisions. On these lines a unique optimization metrics card has been developed in Kuwait Oil Company for an asset or area which has led to maximizing its production efficiency. Originally created as an excel based metrics report for the Greater Burgan Field, the new asset metrics card is a web based report card applicable for all fields of Kuwait with the ability to divide into increasingly smaller 'production levels' or conversely roll up to higher consolidated levels giving both staff and management the quick ability to assess what matters to them.The asset metrics card consolidates the critical activity and capacity measures required to understand present & future ability to meet production targets. The metrics are a mixture of leading and lagging indicators that are all related to an asset being able to optimize the level of production through a facility by tracking groups of metrics that could be the precursors to future production (leading indicators) and metrics that represent post appraisals of past production activity efforts (lagging indicators).The overlying purpose of the metrics card is to create awareness and a base for discussion among the field development stakeholders, from the smallest level to the highest on what are the activities that need adjustment to sustain or change progress towards maximizing production. All the metrics are related to or linked to another metric on the card and all metrics lead to the final measure of meeting production targets. These metrics are shared among multiple stakeholders and presents a customer/supplier relationship providing a common venue to discuss the balancing acts needed to meet the shared production targets.