A European energy company headquartered in Austria requested Well Engineering Partners B.V. (WEP) to conduct a high level independent review of their well planning process. The main focus was on the cost estimation process and cost estimation done for their upcoming planned wells.
The scope of the review was to review:
- The well planning process
- The technical documents (Basis Of Designs and drilling programs)
- The cost estimation
A 2-day visit was made to the headquarters and interviews were held with key personnel of the drilling and finance department. Recommendations were given to improve the well planning process and to reduce the drilling risks and costs of the upcoming drilling campaign.
A report was delivered with all the observations and recommendations of the review.
WEP references used for the review were the WEProcess (stage gated design process), WEP design documents and WEP services and materials quotation database.