PTTEP to benchmark drilling performance against other state-owned oil companies
PTT Exploration and Production has committed to benchmarking its global drilling performance against other national oil companies (NOCs) as well as multinational and independent oil companies.
“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,” Helen Rushmore, director of Scotland-based Rushmore Reviews, said yesterday.
“They are not the only national oil company who are focused on improving their well-construction performance through participation in the Drilling Performance Review,” she said.
“Other NOCs doing this include DONG of Denmark, Petrobras of Brazil, Petronas Carigali of Malaysia, PDO of Oman and Statoil of Norway,” she said.
“We are increasingly seeing a new trend for NOCs 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,” Rushmore said.
