Production Opportunities Tracking

The Challenge

A mid-size global E&P company believes in the old adage, “What gets measured, gets done”. However, they currently have numerous ways of finding, recording, and tracking ideas to increase production from existing fields they operate. In addition, management noticed that the various disciplines comprising asset team (e.g. subsurface, production, operations, and facilities) have their own discrete processes. The management team wants to have a system, operated globally, that will capture and track all opportunities identified to enhance production in their assets. They want to encourage team members to share best practices and collaborate throughout their global production organization because they see enormous value in having a consistent, structured process to ensure the best ideas move forward rapidly and efficiently. 3GiG delivers a solution to this challenge.

The 3GiG Solution

3GiG’s Prospect Director provides the web-based technology to register, record, and track all opportunities to increase production in fields worldwide. Asset teams can collaborate from the office or field via the web. Tracking new production ideas increases operational efficiency to more effectively produce assets. Prospect Director exists out-of–the-box, and does not require custom development to implement, so it is cost-effective. Its configurable architecture and user-interface allows any organization to capture and monitor ideas using the company’s own taxonomy and “lingo”, thus set-up time and training to use the system is minimal. The global opportunity database intelligently tracks opportunities as they move through phase-gates and decision points to implementation. Processes for each opportunity type can be standardized across an organization in minutes and implemented instantly globally. Each opportunity is assigned risk, rank, and value which is displayed in the portfolio views established for various parts of the organization. Reporting is automated and generated on demand, minimizing organizational disruption for key events.

As an operating unit VP said, “In a resource business, the quickest, most cost-effective way to add reserves is from existing assets. We have to seize control of our future by changing the way we do business, improving work practices and becoming better at identifying and pursuing the right opportunities.”