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Finding Oil in Atlantic Basins

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Wednesday, May 27, 2015

Video Presentation

Why are exploration wells so expensive and how to cut costs…?

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Mike Dyson

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Talk Description
  • Make the most of lower rig (and contract services) rates (timing, specs, sharing etc)
  • Incentivising performance / aligning objectives
  • Plan and execute the well as a project
  • Apply risk management and mitigation principles
  • Challenge scope / options and reduce complexity
  • Optimise operations – lower variability at a detailed level
  • Increase reliability (especially BOPs)
  • Realise the benefits of technology – eg dual activity rigs,
  • High-grade skills and competencies
  • Teamwork and communications
…there is no silver bullet

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