A big oilfield operator, needed to optimize drilling times while reducing costs and improving financial outcomes. Additionally, safety results were precarious at the time so new standards were required in order to avoid accidents and elevate rig personnel awareness in HSE.
A lump sum turnkey or LSTK model was developed and executed. Most of the previous wells were located in a specific area of the basin, in a reservoir located below 15000 ft depth. Offset wells data was used to estimate target times, and a price list connected services to lump sum costs.
No accidents in 9 years of project.
Millions of $ savings for the customer.
Times improved dramatically in original drilling area where 60% of activity occurred.
Lessons learned from continuous improvement were implemented in other oilfields of the huge basin.
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