Economic Report 2019

Industry has made good progress and must continue to work collectively to maximise value for both E&P and supply chain companies. OGUK’s Competitive Well Delivery initiative aims to unlock more opportunities on the UKCS which will contribute to an increase in drilling activity across the basin. The initiative is making good progress across several focus areas, outlined in Figure 22.

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Figure 22: OGUK Competitive Well Delivery Focus Areas

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Peer Review Sessions Aim to help operators review their well designs and execution plans by sharing them with peers from other companies. This brings alternative perspectives and solutions to the table, giving operators confidence in their designs, make cost and performance improvements, and ensure the well meets its objectives. Performance Improvement Workshops Sessions are designed to help companies share lessons from recent experience with their peers. Peers are able to gain confidence in carrying out operations and/or using new techniques by listening to the experience shared and participating in discussion. Multi-Operator Campaigns Work scopes in the UKCS can be fragmented, often being single-well campaigns, which do not benefit from improvement opportunities which can be unlocked by multi-well campaigns. OGUK members are addressing this by identifying opportunities where rigs and intervention vessels can be shared to create more campaigns of work. Right Scoping Guidelines In 2019, OGUK released guidelines designed to help operators develop the minimum required scope for their well designs, based on benchmarking, target-setting, and a multi-disciplinary approach. Members are now focused on incorporating these guidelines into their own processes, to deliver competitive, safe and credible well designs.

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OGUK’s Wells Forum, which supports this initiative, also helps safeguard other aspects central to a competitive basin. The industry’s globally renowned technical guidelines, published by OGUK, cover the entirety of the well lifecycle and help protect the industry’s licence to operate. Additionally, the forum addresses emerging risks and challenges that the wells community faces in a collaborative and open manner.

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