The EIU's report delves into the value of standardisation and effective project management for the oil and gas industry, exploring opportunities and best practices.
- The greatest benefits of replication are achieved when project teams approach their first project with duplication in mind.
- Standardisation is a long-term process and an integrated approach is crucial. ï€
- The lessons that produce such gains are achieved when operating teams, contractors and owners collaborate to reduce the time to final project delivery. ï€ ï€
- Firms maximise the benefits of standardisation by developing a portfolio of project templates that address common drilling scenarios. ï€
- Provided projects are replicated in the same region under the same operating conditions, the compliance process can also be shortened. ï€
- A key challenge to successful replication is that top talent and executive teams are often focused on larger-scale projects.